TARP. CPP. RV?
The Recreation Vehicle Industry Association (RVIA) has a plan to turn around the national economy and help struggling financial institutions: RV financing!
The RVIA has produced an eight-minute video to market two kinds of RV financing to banks and other lenders – consumer financing and wholesale RV loans for dealerships – which is viewable at their Web site, www.rvia.org.
Never mind that gasoline reached $4 a gallon last summer, and high energy prices were only abated by the global financial collapse. That is irrelevant. Why? Because as the RVIA‘s video explains, RVs are "an all-American industry that has always led the national economy in financial recovery."
While the Teller’s research assistants quickly parse Roosevelt‘s New Deal for details about RVs, let’s look at some facts. According to the RVIA, there are 8 million RVs on the road, which is a record for RV ownership. The Teller would argue that means the country has reached its saturation point for giant, gas-guzzling motor homes. The RVIA would say, ‘You’re wrong.’ That’s probably why they call it arguing.
The RVIA explains that an RV trip costs 27 to 61 percent less than other types of travel. That’s after you’ve already got an RV, of course, but it’s probably still true when comparing trips around the world via luxury yacht or fighter jet.
In fairness, the RVIA does have one impressive statistic in their corner. Through the third quarter in 2008, RV loans had a very low delinquency rate, at only 1.27 percent. That’s significantly lower than other types of consumer loans, like auto or home loans. Of course if you can’t pay your car loan or mortgage, it kind of makes good sense to keep the RV, doesn’t it?
In the end, the RVIA can always go back to its great truth: RVing brings families together, which is exactly what this country needs in these tough times.
"People haven’t given up on their families, haven’t given up on the great outdoors, or wanting to inculcate their values in their families through these recreational resources, and that goes well beyond the cost of energy or anything like that," said Dr. Richard T. Curtin, Director of Surveys of Consumers at the University of Michigan, in the RVIA’s video.
The Teller can’t argue with that. What family couldn’t use a little time together exploring this great country in a giant box?
Going For Green
Earth Day is right around the corner (for the Republicans among us, it’s April 22), and that makes it the perfect time to catch up on some environmental know-how.
On Earth Day, the Greater Boston Association of Realtors (GBAR) is holding classes for Realtors to earn the Green Designation from the National Association of Realtors (NAR), which arms them with knowledge of green building practices and property features, and more importantly, how to sell them to consumers.
"Realtors pursuing education in the area of sustainable or green properties are innovators who are finding more ways to provide their clients with cutting edge service," said GBAR President John Ranco of Gibson Sotheby’s in Boston. "These Realtors are adding even more value to real estate transactions."
How much more value? According to NAR, buyers who bought "green" homes in 2007 paid an average of $12,400 more than the median sales price. That’s hundreds of dollars more in commissions directly into Realtors’ pockets.
Yes, energy efficiency, alternative energy and sustainable materials make a lot of sense. But right now Realtors could use some more dollars. If people are willing to pay more now for long-term savings and philosophical peace of mind, the Teller is sure the two-dozen soon-to-be "Green" Realtors are ready to help them.
