First to tank in a tough economy, and first to rebound, say economists.
What is it? RVs, those often-luxurious homes on four wheels. They are coming on strong these days.
“Our largest demographic is the Baby Boomer, age 50 and above, and
so that demographic hasn’t stopped through the recession,” Richard
Coons, president and CEO of the[Recreation Vehicle Industry Association
(RVIA), told CNBC today (Nov. 30). Click here to see the CNBC telecast.
“What’s interesting is that the younger generation, those 35 years
and under, is the fastest growing part of this industry.”
RV shipments for 2011 are expected to be up 8.2 percent from this
year, and currently about 8.3 million households now own an RV,
according to the industry.
RVs include everything from the pop-up camper, which goes for
about $5,000, to the “big boys,” used by rock and country and western
stars on tour, and featured in the 2004 comedy film “Meet the Fockers.”
The biggest of the big boys is 42 feet long and goes for $750,000.
It includes everything you have in your home — big-screen TVs, La-Z-Boy
recliners, all appliances, granite counters in the kitchen and many
Tax-wise, if you buy an RV, the interest on your loan is
deductible. And for better or worse, you don’t need a special driver’s
license to hit the road in an RV.
Story courtesy of RV Business.