State of the economy and cruising

[Spirit]

How do you think the current state of the economy will affect us, cruisers? For those looking to use credit to buy a boat, or trying to sell the house I guess it's not good... But for those just about to take off, losing a jobs may be the final push to finally get under way. What are your thoughts?

[Susan Connelly]

We are trying to sell our home and love the comfort of knowing that if it sells before we decide where we want to move we can move aboard! We have lived aboard and on land and know that in troubled economic times we could live aboard easily. We are both retired but I like the idea of taking a negative (losing your job) and turning it into a positive (go cruising!). Go for it!!

[Joe Murray]

If you own your boat, you can anchor out and be self-sufficient. If you can depend on yourself and your boat, what happens in Washington and New York, is merely static on the radio.

[Veranda]

If you have a home and are having trouble selling it because of the current economy there may be a silver lining.

Since people are going to be having a harder time qualifying for a loan there will be a good supply of people looking to rent. So instead of selling at the bottom of the market, rent it out, take the income stream and sell it later on down the line when the economy rebounds.

Bill

[Susan Connelly]

Renting is certainly an option.

[Greg VanLaere]

As sailors we all know that things can change on the water very quickly. We put a plan in place and we follow it. We plan for extended foul weather periods and plan for troubles on the boat. Todays economy and cruising are not any different. We will experience some choppy waters but the sun shine and the wind will blow again. So put your plan in place and follow it.

[Mary]

13 month USA bank CD's look good to me! FL. banks offer 4. and some only want as little as $25,000. for 3.5 9 mo. rate...

I know, I sound as if a chicken but hey... play'n it safe...

[Suky]

The high end marina where I've worked the last 2 years just laid me off and my home hasn't sold. Luckily, it looks like I have a renter signing this week. I'll be waiting for the sales market to rebound to finance my liveaboard boat, meanwhile hoping to stay in the game working on the water & getting my Captain's license. The silver lining is I'm now free to move to warmer climes. Right now, it's frigid at night on Long Island.