Boat Market is INSANE!
07-08-2021, 02:55 PM
#61
Registered
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.
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.
07-08-2021, 02:57 PM
#62
Gold Member
Gold Member
I was told the other day that anybody and everybody who was behind on house payments was getting extensions and minimal pressure (if any) to make payments, but those extensions keep adding up (cannot be put on the back-end with mortgages), and very soon will be required to be paid in full, one lump sum - thats gonna be a big wakeup call and a lot of foreclosures hitting the market at the same time.
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.
07-08-2021, 05:10 PM
#63
Your logic makes sense, however most of the people who took advantage of the mortgage relief stimulus still have plenty of equity in their homes in this market, so if they are facing large fees to catch up, all they have to do is sell their house and will probably still walk away ahead. I doubt there will be a flood of foreclosures. Once demand slows, that’s when the tides will turn.
07-08-2021, 08:09 PM
#64
Registered
iTrader: (2)
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.
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.
07-08-2021, 08:12 PM
#65
Registered
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.
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.
07-08-2021, 09:00 PM
#66
Registered
Trying to avoid a Repeat of conditions leading to 2008 bank collapse
07-09-2021, 09:12 AM
#67
Registered
Wells Fargo was such a train wreck for their clients when the COVID hit I bet a lot of their business customers went elsewhere.
07-09-2021, 01:09 PM
#68
Registered
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.
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larslindroth (07-09-2021)
07-09-2021, 05:57 PM
#69
Registered
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.
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.
