Here’s another Housing Bubble of a sort to pay attention to: RV sales are up, too. Thanks very much to Burbed reader Petsmart Groomer for alerting us to this alarming threat to vacation home prices.
By Dan Nakaso, San Jose Mercury News
Posted: 05/29/2013 05:43:55 AM PDT; Updated: 05/29/2013 10:36:14 AM PDT
The number of recreational vehicles delivered to dealers’ lots is expected to reach a six-year high in 2013 as fledgling RV buyers such as Karen and Jim Smith, of San Jose, shake off the economic slumber of the past few years and prepare to hit the road this summer.
"There are just so many things to see that we’ve never seen before: Mount Rushmore, the Grand Canyon, Lookout Mountain in Tennessee," Karen Smith said after writing a $21,000 check for her 18-foot 2014 White Water Retro Travel Trailer that came stocked with a queen-size bed, separate refrigerator and freezer, two-burner stove, microwave, full-size bath, shower and beds for three more people.
The Smiths represent new hope for a U.S. RV industry that sustained a series of body blows beginning with the 2008 recession but now appears to be rebounding in the Bay Area and beyond.
The industry has not seen more than 300,000 RVs shipped to dealers around the country since 2007, the year before the recession took hold. But deliveries this year were up 11 percent in the first quarter and the RV industry now expects to see a total of 307,300 deliveries of motor homes and tow-able RVs. Tow-ables make up the overwhelming majority of RV sales in the U.S.
Read the whole article. You will learn that yes, RV sales are up even in the Bay Area, despite this place being so awesome nobody would ever need a vacation from it. You’ll also learn that the #1 RV dealer in Northern California is in Gilroy and started up in 2008, right in time for the financial collapse that took out all its competition. Finally, just like there’s the RBA and everywhere else, it turns out there are different degrees of #winning with RVs.
The cheapest kind are the ones that get towed, and that’s 90% of all sales. Think of it as the East Bay of Recreational Vehicles. And enjoy your recreation today, because it’s, in theory a holiday. We know that you’re actually hard at work since there are always new End of Quarter Goals now that you didn’t make your old ones.
Speaking of the East Bay, most Walmarts allow RVs to park in their lots, and there are more Walmarts in the East Bay so… just sayin’.