Pride comes before the 'Fall'

neas

Or should it be pride comes before the crash?

Im not laughing at other peoples misfortune. Im laughing at those who laughed at MINE and OTHERS misfotune.. people who laughed at you for not getting a houser sooner.

Call it karma call it justice.... call it what you want.. I know people who just bouht and feel sorry for them. I dont feel sorry for the guys with big BTL empires with little to no equity in each property

.

[Edit]: Clarified....

I get a warm feeling that those individuals who pushed mine and others face into the mud... are now on the losing end of the equation. Those who were happy laughing at mine and others misfortune.

Call me jealous call me nuts, call me mean. It doesn't matter this is what i feel and it doesn't change it.

I feel a mixture of emotions... that cannot be described solely on an internet forum. I feel

1. Relief that housing will get cheaper, that I didn't buy high to sell low.
2. Regret... that those individuals... some of my friends did buy high...
3. Anger... that those who helped collectively cause this problem will not be punished as those individuals mentioned in 2... that they will get away scot free... while people will lose everything over it.
4. Glee... that finally people will stop gloating at those 'poorer' than them.. just because they didn't buy 10 years ago, through lack of money or age.
5. Worry... I understand the full ramifications of a recession, this is why I actively save money now and have turned into a couponer thanks to PTS.
6. Happiness... That I am getting married and have found an indivudual I love, who feels the same way about life, money and saving as me. A sensible individual who isn't lumped with 20k credit card debts.
7. Happiness... That life has to go on, that you have to prepare for the worst.. but not live in fear of it. Im happy I have no debts, that my car is paid for fully, that I have savings for a house, that My wedding is fully paid for... I have no worries... no ties to a house. I am well placed to weather the storm.
8. Relief, My company is on long term contracts through foreign military governments, it is well above profit.
9. Acknolwedgement. That I may have to change job, use my skills elsewhere. I am prepared to fight for it.

lostinrates

neas wrote: »

Or should it be pride comes before the crash?

Does anyone else get a warm feeling every month and feel a little glee at certain users of this forum that their 'perceived' wealth is diminishing every month. That their get rich quick scheme is put into reverse gear?

No. I really don't.

I don't blame people for wanting to make money, or for succeeding, after all, wouldn't we all like to be richer?

I hate that financial pressure is building on by far the majority of people.

I' grateful to the extremists on both sides who privide informative information.

i'm relieved it looks that we didnt rush in to buy an unsuitable place for longterm at the peak, I'm relieved that buying a more suitable property for us becomes increasigly more likely, but I'm genuinely sad that this involves other people's lives being negatively effected. absolutely no gloating whatsoever.

Treadmill

Not bothered what other people to to be honest, in good times I'd put wishing ill fortune on people down as envy. BTL landlords are generally chancers, sometimes taking a chance pays off sometimes it doesn't. It would be a boring world if we where all the same.

neas

Are you not happy the smug smile on their face is wiped off? The smug smile of " I bought ten properties and am a millionaire *cackling laugh*" at a younger kid forced onto a 7x mortgage for a little hovel somewhere?

I certainly am :P

Treadmill

Nah, I am truely self centered. I only take an interest in things that affect me personally. I'll be feeling smug if I get to buy their propertys as a repo for a rock bottom price and actually gain out of thier misfortune (Or Greed)

neas

Its fine to make money... but its not fine to think they had some expertise when they made a lucky decision years ago. And the house tripled in cost.

Lotus-eater

neas wrote: »

Or should it be pride comes before the crash?

Does anyone else get a warm feeling every month and feel a little glee at certain users of this forum that their 'perceived' wealth is diminishing every month. That their get rich quick scheme is put into reverse gear?

I don't like the gloater's at either end. I guess it was the way I was bought up, don't laugh at other people when they are down and don't take any notice (apart from be mildly amused) when they throw their wealth in your face.

Dithering_Dad

neas wrote: »

Or should it be pride comes before the crash?

Does anyone else get a warm feeling every month and feel a little glee at certain users of this forum that their 'perceived' wealth is diminishing every month. That their get rich quick scheme is put into reverse gear?

I remember 6-7 months back BTL Bois would trounce anyone talking about a crash.. but now we are in full swing and it doesn't look like its going to stop anytime soon. I can ignore the biased and illogical reasons why houses will recover short term... as I have one thing they dont.... evidence.

So I dedicate this to you Pickles and Mr Broderick... You provide me with a warm fussy feeling every month..

Ahhh

Has anyone read "A tale of two cities", by Charles Dickens?

One of the sub plots revolves around Madame Defarge and her sidekick "The Vengence". Basically it shows how the poor and downtrodden, having thrown off the yolk of oppression quickly turn into the oppressors, becoming much worse than those they despised and rose up against.

An interesting story, with no relevence to this thread at all. I just love classic fiction and wanted to share with my pals on the 'House Schadenfreude' sub board.

Lotus-eater

From what I've read of DD, I didn't think I'd be agreeing with him any time in the future........ and I'm not. Neas isn't poor or downtrodden. Maybe just bitter.

Tis turning into the HS board though.

Walletwatch

I think I would go to the extent of telling them 'I told you so'. Contemporaries and colleagues at work have been debating this point with me for the past five years. Guys that bought around three years back used to bring this up at every party that we attended that prices would only go up and their pet argument - the demand-supply gap. What astounds me is that some of these are well informed investment bankers with JP Morgan, CSFB, etc who took out interest only mortgages to buy expansive (and expensive) flats in Canary Wharf.

Some of these blokes are good mates of mine though, so my response, although showing how my stance was vindicated stops short of gloating, as it is difficult when you come across a good friend's wife having to keep her job and not quit it to take care of their two lovely little ones so their ever increasing mortgage payments can be met.

Cheers
WW

Dithering_Dad

Madame_Defarge wrote: »

Its fine to make money... but its not fine to think they had some expertise when they made a lucky decision years ago. And the house tripled in cost.

The same accusation can be levelled at the people who insist they had housing crash prescience skills. In reality they didn't buy a house, not because of some expertise in predicting housing markets, but because they simply could not afford one.