Aside from high unemployment rates and home foreclosures, there is another emerging indicator of how badly hit is the United States by the recession and the global financial crisis. It is the growing number of boats being abandoned by their owners.
Like mortgaged homes, the derelict vessels are difficult to sell at a time when the American economy is down, prompting some owners to default on their boat mortgages or abandon the vessels. Some boat owners, reeling from other expenses, now find it heavy on the pocket to maintain their water toys.