A Heating Economy
Here is another anecdote about the heating economy. I put my old sailboat up for sale the other day. I got 2 offers within hours of putting it up for sale. I am trying to buy another boat. I saw a nice one that was put up for sale, and it sold in under 2 hours. Just saw another one… same, sold in under 5 hours. I hear the same thing from my real estate friends, and now in the news about homes going into overbids, no contingencies, panic type buying.
In past cycles, I remember real estate going up 10% a month for months at a time.
I guess the unemployment figures the other day were good and Labogola'd the market up in the afternoon, but the juice didn't last through to today.
Also, I was looking at new jet skis, but there are none in stock…all used inventory sold out. Looking at outboard motors.
Same thing, no inventory anywhere, long waits from factory.