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sandm
03-28-2018, 11:51 AM
seeing the thread on the new tige boat has me again wondering.
we came through lake havasu last weekend and stopped at the channel for lunch. spring break was going on. I was amazed at all the multi-engined powerboats in the channel and tied up. betting there was north of 100 on the lake. knowing these cost over 150k to get a basic magic/sceptre/dcb it also was interesting to see the number being piloted by high20-mid30 year olds.
know a lot is cali money it makes me wonder where all the cash is coming from and what these people are doing to pay for them.

guess I shouldn't be surprised tho as one of my buddies at work has a friend that deals poker at one of the casinos on the strip. guessing shes around 27-30. just paid cash for an '18 c7 droptop.

sivs1
03-28-2018, 12:36 PM
First, didn't realize you left Utah and went down to Vegas! Congrats, hope it's a good move for you.

I live in Park City Utah, many many many multi million dollar homes all over, a lot of which are vacation homes used only 3 to 4 weeks a year and the remaining weeks they have staff living in them to insure nothing goes wrong. More recently we've seen an influx of people from out of the country coming in and paying cash for these homes. $5,000,000 cash for a home. Not in my lifetime unless I win Powerball and Utah refuses to have a lottery!

If I do a Zillow search for Park City and $5,000,000 minimum price, the filter maxes out at 500 homes.

Crazy!

zabooda
03-28-2018, 12:56 PM
We need another hard market crash as it is a good reality check. Plus it's a great way to buy homes, boats and RVs cheap. These people live for now and they will learn.

dakota4ce
03-28-2018, 01:25 PM
It does make you wonder—however, it’s pointless to care or ponder. Work on your own situation and make it the best is how I try to focus as much as I can.

Wishing for a market crash might be the strangest thing I have ever heard. That hurts everyone, but most of all the generation that is looking to retire. Literally crushes them, and they’re not strung out in debt in lots of cases—they’re simply trying to save and be smart as best they can.

I don’t want to appear high and mighty—I used to wonder constantly and it actually stressed me out a little! Feels good to not give a rats ass about how they got their money (or huge loan in most cases). I have what I need and in fact way more than I deserve probably...

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RC_Hinojosa
03-28-2018, 01:42 PM
I have what I need and in fact way more than I deserve probably...

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I echo this sentiment!! It's taken a lot of hard work and #grinding but it's way to easy to lose sight of where you came from. Things like what dakota4ce said are the kinda things to help keep me grounded. I am blessed and have to constantly remind myself that.

rdlangston13
03-28-2018, 02:34 PM
I wonder the same thing when I roll through Houston and it seems like every neighborhood is packed full of half million dollar houses. Given what the national average family income is, it is hard for me to fathom there are that many people able to put down that much on housing. A couple days ago there was some article talking about how much money you needed to make to buy a house is Houston and this article said you only need to make $38,000 a year to afford a $160,000 house. I thought that was crazy and there is no way someone who makes $38k can spend that much on a house but someone at work corrected me and said that the norm is for your house to cost 5x you annual. We way under bought but don't tell my wife! lol

sandm
03-28-2018, 04:38 PM
I echo this sentiment!! It's taken a lot of hard work and #grinding but it's way to easy to lose sight of where you came from. Things like what dakota4ce said are the kinda things to help keep me grounded. I am blessed and have to constantly remind myself that.

don't get me wrong, not complaining as I have a good job, nice rides and about to close on a house that we never thought would be a reality(view of vegas strip is KILLER) but it's still amazing to me to see all the spending and not wonder.

MJHSupra
03-28-2018, 08:57 PM
I’m with ya. I do not loose sleep on the topic, but when I pass by a bunch of 200k+ cig boats w/20-30yo, I wonder.

Even funnier when I see their tow rigs at the boat ramps.


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russellsmojo
03-28-2018, 09:12 PM
https://uploads.tapatalk-cdn.com/20180329/86a15dabe84c805c70026c27519323fb.jpg




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sandm
03-28-2018, 09:25 PM
I hear ya but not what I was seeing :)

orange Sleek Boat was a good 100k plus used. dual engines and a bumpin stereo and hearing the engines when they left a few minutes after we arrived they were blown and had serious cams. couple on board were, at most, low 30's. 2 small kids under 5 and she was a good 6-8months pregnant.

def. makes ya wonder...

26803

Catman
03-28-2018, 09:37 PM
I feel we do pretty well financially when I started looking at surf boats I kept asking myself if we are living out of our means .i have no idea how some people can take a boat loan for 20 years or pay cash are they making over 200k as a combined income?

russellsmojo
03-28-2018, 10:12 PM
I hear ya but not what I was seeing :)

orange Sleek Boat was a good 100k plus used. dual engines and a bumpin stereo and hearing the engines when they left a few minutes after we arrived they were blown and had serious cams. couple on board were, at most, low 30's. 2 small kids under 5 and she was a good 6-8months pregnant.

def. makes ya wonder...

26803

Yep different scenario haha. And not to mention that’s the last boat I would own for a family day in the water.


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kaneboats
03-29-2018, 11:29 AM
For some it is inheritances. For others it is Daddy's money buying toys. Some are mortgaged to the hilt. Others start a small business and work very hard at it. You only see them when they are off. For those of us that work a job for many years it seems like crazy money. Then again, if you have a 401k and its growing there's some money in there that many of these folks don't have and are just spending as they go.

Poison
03-29-2018, 11:41 AM
A lot of folks just have that kind of money to throw around. But many more have crippling debt and are above their means.

In Louisiana, you can basically measure the state of the oil and gas industry by how many new boats are on the water vs how many are for sale on Craigslist. Never fails...oil fields do layoffs and it’s a free for all in the used boat market.


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New Guy
03-29-2018, 07:18 PM
55+ hours a week here bought the first boat right and after that just lots of hard work.

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jmvotto
04-01-2018, 09:29 PM
It’s the me generation

sandm
04-01-2018, 10:00 PM
It’s the me generation

what was that???? I was too busy thinking about me :)

RC_Hinojosa
04-02-2018, 08:53 AM
It’s the me generation

I realize we never stood in breadlines or trudged 10 miles in snow to get to school everyday but not all millennial's fall under a blanket stereotype.

kaneboats
04-02-2018, 10:40 AM
No, not every one. This is true. But still-- a lot of them sure as hell do.

New Guy
04-02-2018, 10:42 AM
It's not our fault you raised a bunch of snowflakes.....

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RC_Hinojosa
04-02-2018, 11:01 AM
It's not our fault you raised a bunch of snowflakes.....


Lol, I'm a special snowflake...y'all can piss off. Brrr.

26812

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jason1973
11-14-2018, 09:09 AM
I think some people just choose to live within or outside of their means. The people that live outside just don't care perhaps if they lose their boat or have to sell it. To me its a way of life.. something i never want to sell because i enjoy it so i make sure i can afford it in the event of a job loss or whatever. We also only buy toys with cash.. Never take a single loan. We are blessed with good jobs however and i am thankful for that every day. I am sure we could afford a new Supra but i guess i don't want to afford a new supra because we also have other toys that i like. (a must if you live in wisconsin climate)

We have a lake in wisconsin that i sometimes frequent and the local dealer sells Natique. I come rolling up in my 2006 Mastercraft to see 19 year old kids abusing Daddies lake model SAN's. LIterally dozens of 150k+ boats with teens pulling them on on the sand bar. I just sit back and wonder.

1967Goat
11-14-2018, 11:42 AM
Ask them what their balance is in their retirement account!

gravity
11-14-2018, 05:02 PM
I hear ya but not what I was seeing :)

orange Sleek Boat was a good 100k plus used. dual engines and a bumpin stereo and hearing the engines when they left a few minutes after we arrived they were blown and had serious cams. couple on board were, at most, low 30's. 2 small kids under 5 and she was a good 6-8months pregnant.

def. makes ya wonder...

26803What makes me wonder is why you would buy that as a family boat.

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jason1973
11-14-2018, 05:20 PM
1. its their taste in boat
2. important to have the "look at me"
3. because they can

gravity
11-14-2018, 05:28 PM
1. its their taste in boat
2. important to have the "look at me"
3. because they canWell said. We all have different taste. Spend it on what makes you happy

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trayson
11-14-2018, 08:41 PM
The income gap is real. To a lot of my friends, I look like a baller having a house, boat, bmw, audi, lifted truck, sportbike… But then I have friends that blow me away. One couple I know just did a group trip to Vegas. They rented the MGM skybox that was a few grand a night. Their tab at the cabana at Wet Republic was $15k for the one day of day-clubbing. He literally showed up to Vegas with a duffel bag full of cash. I can't even imagine throwing around that kind of money. He owns a computer consulting business. I know that when our company has onsite consultants, it's EASY to be charged $1500 a day + expenses. So if he's the owner he could easily be giving his consultants 6-figure salaries and still be pocketing $100/hr.

And to David, having a 1/2 million dollar house isn't that big of deal. My house is $350k and my house payment is affordable. To have another $150k financed we're talking about $650 a month. Get rid of my child support and I'm most of the way there.

It's funny that these threads come up every few months.

sandm
11-15-2018, 11:53 AM
having a 1/2 million dollar house isn't that big of deal.

true. we don't consider ourselves well off by any means and our pad is hitting the market friday for $449. granted all location dependent but here in sin city 500k buys you a decent house on a small-ish lot with a 3 car. the 1/4 acre tract we are going to go build on is setting us back 140k and that's average around here.