Vacation Home Buying Fizzling. RV's too?

Those that need to fight it hard for gasoline and food should not be RVing, boating or buying vacation homes IMO.

WaPo is behind a paywall.

RedRollingRoadblock wrote:
WaPo is behind a paywall.

Try this one: https://www.theday.com/business/20220504/pandemics-vacation-home-buying-frenzy-beginning-to-fizzle

Owned a towable RV for over a decade.Rented many condos along the coast, couple of cabins in the Blue Ridge and Smokies. Looking back I think the week rental gave us the best value and bang for the vacation buck.....for us. Everyone's situation and desires vary, to tow,
what we owned, a truck was a must have, now it's gone.

Cabins and trailers have been replaced with Caribbean cruises unless they get outlandish.

Following a particular model of boat and I've noticed some more realistic prices coming out in the last couple months

I'm not sure prices will crater but I wouldn't be surprised if things settle down to more realistic levels.

Trucks might hold out a bit longer simply due to the supply shortage and the fact they are used for other purposes.

With a 1/2% increase in interest rates you will see a decrease in large expenditures overall.

harryjr wrote:

RedRollingRoadblock wrote:
WaPo is behind a paywall.

Try this one: https://www.theday.com/business/20220504/pandemics-vacation-home-buying-frenzy-beginning-to-fizzle

This article fails to consider the lack of availability of homes/2nd homes. You can't buy what is not available.

Technically can't access or read the article - either link. But I can tell you I live in a resort area on the coast and homes don't stay on the market for more than a few days. And all of them are multi bids way over asking price. 2 houses in our neighborhood just sold in under a day and the numbers are about $200-300k over what the owners paid 2 years ago. Rentals are the same way.

At some point in the not too distant future I see a rash of short sales. A half point raise in interest will grow to a 3% raise as the economy cools. But I feel there won't be as many bargains as in the past.

valhalla360 wrote:
Following a particular model of boat and I've noticed some more realistic prices coming out in the last couple months

I'm not sure prices will crater but I wouldn't be surprised if things settle down to more realistic levels.

Trucks might hold out a bit longer simply due to the supply shortage and the fact they are used for other purposes.

I know where you can get a nice super yacht for 1/2 off so $350 million.

It's only got one spot for a helicopter so it might not meet your needs, however. You might have to send your helicopter to pick up your guests.