Sales of Pleasure Boats Buoyed by Soaring Home Values

“As his 3-year-old son grabbed the helm of an 18-foot sports cruiser, David Yates checked out the power boat’s plush white leather seats.

Yates didn’t know whether he’d buy this particular boat, which had a list price of $21,000, but he was pretty sure of one thing: He wouldn’t be at the Los Angeles Boat Show if not for the housing market.

“We couldn’t have afforded to come here before, but now that my house has doubled in value, we have an opportunity to take out a second mortgage,” said the 48-year-old Burbank resident, who is a manager for a cabinet manufacturer. “At least we’re in reach of being able to buy a boat.”"