Winnipesaukee Forum - View Single Post - Bad economy/speed limit=bad news for lake businesses

VtSteve · 04-23-2009, 08:59 AM

I mostly agree with your post #50 SA. This summer will be a tough one for boaters, not to mention the continued drought in the boat business. Every group likes to think they're the most important, which I sense is the feeling some have regarding their relative importance on the lake's economy.

I think the most obvious economic impact this season will be those that couldn't recover from unwise spending from home refis and interest rate adjustments. This will have some impact on properties for sale, boats not launched, and probably will lessen the traffic on the lake in general. The rest will have to make choices if money's tight. Do we go out in the boat every weekend, or just sit back and hang out? Dining out or eating in? Basics of life.

I saw decreased activity last summer due to the gas prices. Two groups "seemed" to be impacted the most, from my own totally unscientific observations. Less flashy boats bombing around. I surmise these are the folks that bought expensive machines they really could not afford to run anyway, especially at $5 a gallon. House as ATM machine and all that. Recreational boaters were much more sedate, mostly at anchor rather than bussing around. But last summer was dreadful weather, so taking that into account, who really knows?

The Lakes Region has survived many economic downturns, like to one in the 80's where it seemed every other waterfront property was for sale. It will continue to survive as it always has. Just another reminder that huge debt leverage and living beyond your means usually ends badly.

04-23-2009, 08:59 AM	#157
VtSteve Senior Member Join Date: Apr 2008 Posts: 1,320 Blog Entries: 1 Thanks: 230 Thanked 361 Times in 169 Posts	I mostly agree with your post #50 SA. This summer will be a tough one for boaters, not to mention the continued drought in the boat business. Every group likes to think they're the most important, which I sense is the feeling some have regarding their relative importance on the lake's economy. I think the most obvious economic impact this season will be those that couldn't recover from unwise spending from home refis and interest rate adjustments. This will have some impact on properties for sale, boats not launched, and probably will lessen the traffic on the lake in general. The rest will have to make choices if money's tight. Do we go out in the boat every weekend, or just sit back and hang out? Dining out or eating in? Basics of life. I saw decreased activity last summer due to the gas prices. Two groups "seemed" to be impacted the most, from my own totally unscientific observations. Less flashy boats bombing around. I surmise these are the folks that bought expensive machines they really could not afford to run anyway, especially at $5 a gallon. House as ATM machine and all that. Recreational boaters were much more sedate, mostly at anchor rather than bussing around. But last summer was dreadful weather, so taking that into account, who really knows? The Lakes Region has survived many economic downturns, like to one in the 80's where it seemed every other waterfront property was for sale. It will continue to survive as it always has. Just another reminder that huge debt leverage and living beyond your means usually ends badly.