SOUTHWEST HARBOR — With upcoming presidential elections causing uncertainty in the economy, managers of Mount Desert Island area boatyards say coming years may bring more regular business as the luxury market stabilizes under the new presidency. But experts caution against all but the most general predictions.
“In the current situation, the candidates for president have very different views on future taxes, interest rates and future economic growth,” said James Breece, an associate professor at the School of Economics at the University of Maine, Orono.
“Right now with an effective tie in the polls, no one knows who will win. Hence, they may delay the purchase of large-ticket items and wait to see who wins,” he said.
Don Ellis, owner of Ellis Boat in Manset, noted several such customers. “We’ve got three projects on hold saying they’re waiting for the results of the elections,” said Mr. Ellis.
“Basically, it’s a gut feeling,” said John Kachmar, president of Wilbur Yachts. “This is my third election [in the business]. You see it every election year. Six months to a year prior to the election things slow down. Normally, business picks up after that.”