Regardless of where the money comes from, marine is still classified as a luxury market. And is it really increase in household income? or probably more likely an increase in household willingness to go further into debt in a low interest rate climate.
Sure, in this day and age of "I want it and I want it now" things are a bit different but peoples "must have" desires dont alter the classification of an industry, they in large proportions just become statistics of the "overhocked" market..... And what I mean there is those who decide on their own or are convinced by their bank to "hell yeah, go buy a new boat and whack it on the mortgage". All is great in a low interest rate market but when the rates climb (as they are) people start to feel the squeeze and the first thing to go is the toys.
I feel sorry for any person who owns a boat on finance. I believe that if you cannot buy it with cash moolah, then you cannot afford it. Simple as that. No doubt many will disagree, but they cannot disagree that the boat I own with my cash is safe and mine by comparison to the boat they "quasi" own, when they default and its siezed by the lender...
Cheers