Business Has Quadrupled for Nation's Largest Boat Repo Company
In May 2008, HB.com profiled the lone beneficiary of the weak Florida boating market: National Liquidators, the nation's largest marine repo company. At the time, company officials said they had repossessed boats double-stacked on six 400-foot docks in Fort Lauderdale. Fast forward ten months and National Liquidators is leasing four additional boatyards to keep up with the influx of speedboats, crusisers, sailboats and even a few megayachts. "We're busting at the seams," says one NL Recovery team member. The AFP article puts the parallels between the Florida housing and luxury boat markets in perspective: "The easy credit that fueled the real estate boom also brought carefree spending and no-money-down loans for maritime toys. Boats tend to lose their value more quickly than cars, so many owners soon owed more than their boats were worth. The economic slump pushed prices still lower, but the bills kept rolling in."
1 comments:
So where are the affordable boats and houses in Miami? Not counting the houses in Homestead and partially sinking boats in Biscayne bay.........
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