Lets also consider the fact that people these days are less and less willing to put themselves in debt for a luxury item such as a boat.

the 90's burned people when the fake economic "boom" busted. People were left with gobs of debt and no job.

You can't look at numbers like this in a box and just throw out statements like "LOOK HOW BAD THE ECONOMY IS!!!! SEE!!" or even relate something like this to the well-being of the middle class.