Its all boats going crazy right now. For the past year and a half Pop yachts sends me listings daily for older trawlers and sailboats in the 35-40 foot range. If its not complete junk like a majority I viewed appear to be they are asking crazy prices and many are selling .

A couple on our liveaboard dock here in Fort Myers own a 1980 41 Defever with a single Diesel with unknow hours put it on the market for $65 000 last week. I thought they were dreaming.

3 buyers lined up for it the next day.

Yeah, they are the loans that are going to hit the wall. LOTS of people wanted the free living with no expenses when COVID hit. One of my friends does bankruptcy, foreclosure and real estate law. I was talking to him the other day about the current market he said there is a frenzy of calls right now for people trying to figure out what to do with their COVID mortgage forbearance. Lots of these people owe $20,000-$40,000 in forbearance. I think the Biden admin is going to forgive a lot of it but it will screw a lot of people unless they refi - If then can refi they are good, but a lot cant.....

The free money is going to stop and a lot of people are saying it will be fine, but i think the market and real estate will correct when the COVID mortgage programs, PPP and EIDL stop/are due. Heck, I know another dude that teaches trading and options classes, he told me 80% of the people are trading EIDL money... and a lot lost that trading.

SMH, what a bunch of clowns.

I am told that these people CANNOT "REFI" without paying the back payments in full first, and that is where the issue is.

Thought this was a pretty interesting piece of news today...What do they know coming down the pipeline. ...





https://www.zerohedge.com/markets/wells-fargo-infuriates-customers-abruptly-shuttering-personal-credit-business


​​​​​​Wells Fargo just announced that it's shutting down all of its existing personal lines of credit - a popular product offered by the retail-focused Wall Street giant - a move that will likely infuriate legions of customers.

The revolving credit lines, which will be shut down in the coming weeks, typically allow users borrow $3K to $100K, were pitched as a way to consolidate higher-interest credit-card debt, pay for home renovations or avoid overdraft fees on checking accounts attached to the loan.
Customers have been given a 60-day notice that their accounts will be shuttered, and remaining balances will require regular minimum payments, according to the statement.

They are either getting ready to be sold, or their debtors are at the max and they are upside down and not making payments.

Trying to avoid a Repeat of conditions leading to 2008 bank collapse

Wells Fargo was such a train wreck for their clients when the COVID hit I bet a lot of their business customers went elsewhere.

I hate that bank, they bought our mortgage then tried to force us to get high risk flood insurance even when FEMA said no,our flood plan administrator said no and the insurance company said no you are not in a high risk flood plain. of course they were more than willing to send me to their insurance division. Refinanced,,, done.

WOW! That is interesting. Thx for sharing!