Everyone will have heard of the difficulties the US housing market is going through because of the subprime meltdown and excess inventory, with similar signs now appearing in the UK. Is there any evidence that this is hitting yacht sales ? Are prices falling? Is time-to-sale increasing? Or are yachts in a quite different economy? Certainly the explosion in yacht building has seemed to coincide with cheap credit and the house price explosion. I'm not in the industry so I'd be interested to hear what the insider view is.
Power & Motoryacht’s Editor-at-Large Capt. Richard Thiel, who steered the direction of the magazine as Editor-in-Chief for 25 years, passed away recently. Now Executive Editor Capt. Bill Pike shares memories of his colleague and friend.
Read what he had to say here. ▶