Sid I have an example of some stagflation for ya.... Bought my home in Grosse Pointe Woods, Mi. for 120k in 1992..... and thanks to the lovely financial crisis and collapse of the housing industry in 2008 I finally sold it for a whopping gain of zero in March of 2010 ( sales price again 120k ) after having moved to Florida in the summer of 2009 to replace the job I lost in the Great Recession. From August of 2009 until March of 2010 I simultaneously paid for my main residence in Florida and the unoccupied home in Michigan including the damn power bill before the sale which effectively netted the zero gain after residing 18 years in a market that was one of the best housing markets in the greater Detroit area. And you guys expect me to just forgive and forget...... :roll:
My first real job was as a McDonald's employee at age 16 in 1970. Minimum wage was $1.20. Bought my first new car in 1973, a Toyota Corolla. Price was $1,895.00. Bought my first house in 1980 for $55,000. My interest rate was 16.5%. re: Boats Boating as I know it is already out of the reach of most people. I'm talking about marine boating. One year ago my brother in law bought a 43' Riviera sport fisherman, ten years old for $175,000 from an estate in Miami. I just fished on it in the Bahamas a week ago. Since he purchased it he has sunk upwards of $50,000 in repairs and upgrades. Slip space is $800 per month. With a flat sea and a following wind he gets a tad over 1 mpg. He holds about 320 gallons of diesel; in the 200 miles over to The Abacos from Stuart, Fl and 2oo miles back and another 150 miles fishing and joyriding we spent over $4000 on diesel in four days. We docked next to a 69' foot brand new sportfisherman in Freeport. The guy owned a asphalt paving company in Md. He said he paid $4 million for it completely outfitted. Every boat need s a crew. That's me!
My first real job was as a McDonald's employee at age 16 in 1970. Minimum wage was $1.20. Bought my first new car in 1973, a Toyota Corolla. Price was $1,895.00. Bought my first house in 1980 for $55,000. My interest rate was 16.5%. re: Boats Boating as I know it is already out of the reach of most people. I'm talking about marine boating. One year ago my brother in law bought a 43' Riviera sport fisherman, ten years old for $175,000 from an estate in Miami. I just fished on it in the Bahamas a week ago. Since he purchased it he has sunk upwards of $50,000 in repairs and upgrades. Slip space is $800 per month. With a flat sea and a following wind he gets a tad over 1 mpg. He holds about 320 gallons of diesel; in the 200 miles over to The Abacos from Stuart, Fl and 200 miles back and another 150 miles fishing and joyriding we spent over $4000 on diesel in four days. We docked next to a 69' foot brand new sportfisherman in Freeport. The guy owned an asphalt paving company in Md. He said he paid $4 million for it completely outfitted. Every boat needs a crew. That's me!
Yeah you have to have some real discretionary income to be an active boater these days. I do much better splitting a charter with someone.... $400.00 total inc. tip on the inland trips and maybe a head boat out of Clearwater for $75.00 a person. My wife and I did the inland this past Sunday with another couple and caught 20 reds in the 4 to 5 lbs category plus flounder, mangrove snapper and other varieties. I went out on a charter out of Punta Gorda a month ago and they had a deal where I paid just for myself on a 6 person charter and my cut was 180.00 We probably caught 110 fish in a mixed bag of kingfish, grouper, lane snapper, Amberjack and various other assorted species. Not a bad deal for 180.00 and a 9 to 5 trip duration.
Thet truly was a good deal and a good catch, Dave. I once had a bucket list item to go on a charter fishing expedition like you described. I never got around to it, and at my age I'm just not interested anymore. George, holy cow! That is one expensive pastime.
Sid it definitely can wear you down bumping and bouncing around out there. But it can be a nice boat ride at times. When we came out of the Boca Grande pass the annual tarpon tournament was kicking off and there were a lot of anglers in boats trying for the big 100 lbs plus tarpon that you could see rolling and tailing in the pass. Pretty cool sight on the way to 15-20 miles out in the Gulf.
We came all the way back from the Abacos to a Stuart Fl , 200 miles on an absolute flat sea. Going over to Freeport we were in 4-6' seas into the wind for 70 miles. It took us 6 1/2 hrs to make a 4 hr trip. It was brutal.