Boats for free

| March 31, 2009 | Reply

The NYT reports that many people are dumping their boats–simply abandoning them:

Some of those disposing of their boats are in the same bind as overstretched homeowners: they face steep payments on an asset that is diminishing in value and decide not to continue. They either default on the debt or take bolder measures.

Marina and maritime officials around the country say they believe, however, that most of the abandoned vessels cluttering their waters are fully paid for. They are expensive-to-maintain toys that have lost their appeal.

This story reminds me of something my friend Gary once told me:

Gary:  What’s the second-happiest day in a person’s life?

Me:  I don’t know.

Gary:  The day they buy a boat.   What’s the happiest day in a person’s life?

Me:  I don’t know.

Gary:  The day they selltheir boat.

This abandonment of playthings reminds me of the 20-foot Python problem that could someday take over 1/3 of the U.S.

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Category: Consumerism, Economy

About the Author ()

Erich Vieth is an attorney focusing on consumer law litigation and appellate practice. He is also a working musician and a writer, having founded Dangerous Intersection in 2006. Erich and his wife, Anne Jay, live in the Shaw Neighborhood of St. Louis, Missouri, where they are raising their two extraordinary daughters.

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