To rehab or not to rehab...

An interesting study that might come in handy if you lose your compass, some cost-benefit analysis, and Krugman on tribalism...

A friend is currently working through the pros and cons of getting a free project boat to rehab... It's not an easy decision.

Go on any forum and the wags will tell you that a project boat is just a hole to throw money in and the only sane thing to do is buy a newish boat in good shape.

Which is not say they're completely wrong. I've witnessed too many project boats gone sour to be able to say that rehabbing a boat is a cakewalk but, on the other hand, I've seen folks turn a boat around and make it right without going broke or insane in the process more often than not. Done right, it's doable and you'll save a lot of money. Though, it's important to add that done wrong it's just too dire to talk about and not something you'd wish on your worst enemy.

Hopefully my friend, if he decides to take on the project, will keep a weather eye on the need/want factor and get it right.

Listening to Doug and the Slugs

So it goes...