Pride comes before the 'Fall'

carolt

I do understand where you're coming from, neas, although I think you phrased your initial post badly - gloating at those losing out from falling prices is obviously in bad taste.

On the other hand, gloating at the fact that the specific individuals who've been posting on here bragging about their 'wealth (ie equity) and 'intelligence/bravery' (ie lucky timing) are now about to lose some of their windfalls is an entirely different matter. I think that's probably what you meant, and I'm with you in emotion (ie schadenfreude), though in reality have better things to do with my time than spend it gloating. (Like work out how much better off I am as a result.)

As prices fall, yes, I am filled with a mixture of joy/relief - nice to have this boost several times a month now, as all the various indices are released - but that is based primarily on my own improved financial position as a result, rather than others' worsening position. (Obviously, the former is a result of the latter, but not my fault, so I don't spend any more time feeling bad about it than I expect people whose houses rose in value over the last 10 years spent feeling bad about me).

No, it was the homeowner's decade to feel good, now it's the turn of the non-homeowners. Such is life.

neas

Dithering_Dad wrote: »

I actually found it amazing that he'd admit to throwing 2/3rds of his hard-earned deposit money away onto a depreciating asset just at the point when house prices are finally tumbling and bargains are about to be had.

Hardly the post of an astute mathematician, hell hardly the post of an astute person with some math skill.

Dithering_Dad wrote: »

No wonder he hates anyone who is competent with money. :rolleyes:

Obviously you aren't... Where did I say I invested 2/3 of my deposit. 10k on a car would put deposit at 15k.

When i bought the car I had 15k isa and 10k for car... so 10/25 =2/5 not 2/3..... And that fraction is lower as I have more deposit now...

AND....

Dithering_Dad wrote: »

He reveals his financial naivety even more when he points out that his car is depreciating less than a house. hmnn, perhaps, but his car will NEVER appreciate whereas a house eventually will.

"Buy High, Sell Low" is the mantra when you 'invest' in a car.

Again...showing your own naivety, I'll make it simple and use an example for you.

Scenario 1

2007: Buy a house for 100k
2008: House worth 95k

So i have no car and a house worth less than my mortgage... sounds like a good financial decision right? oO. I have lost 5k on the initial house purchase, and am now stuck in negative equity or will be shortly.

Scenario 2

2007: Buy a car for 10k... save a 30k deposit
2008: Buy a house for 95k (I wouldn't buy now but for arguments sake) - car worth 8k due to depriciation.

So i have a car worth 8k..and a house worth 95k. I have lost 2k on my car.... but haven't lost 5k on the house.

Yes if i wanted to invest in something I wouldn't invest in a car, but if I want a nice car thats easy to maintain I'd save without having a car for 2 years... Saving paying Car Tax, Petrol costs, Insurance... and buy a nice car. Once I get a family I won't be able to afford a newish one. Obviously this is lost on you.

If you are gonna try and be a smart a$$... at least have the decency to do some sums.. otherwise you come off looking like an idiot.

Dithering_Dad

neas wrote: »

Hardly the post of an astute mathematician, hell hardly the post of an astute person with some math skill.



Obviously you aren't...

Where did I say I invested 2/3 of my deposit. 10k on a car would put deposit at 15k.

When i bought the car I had 15k isa and 10k for car... so 10/25 =2/5 not 2/3.....

And that fraction is lower as I have more deposit now...

If you are gonna try and be a smart a$$... at least have the decency to do some sums.. otherwise you come off looking like an idiot.

Just because I don't read your tedious posts correctly doesn't change the fact that you've thrown your money at a depreciating asset just at the time (that you openly admit you've longed for) house prices are tumbling and anyone with a good sized deposit will make a killing.

Perhaps you should have demonstrated your obvious mathematical skills to yourself and decided to retain that deposit money for what it was originally intended?

Oh well, perhaps you'll catch the crash of 2018...


p.s who looks the bigger idiot, the one who errs in a calculation on a post in a Money Saving forum, or the one who brags in a Money Saving forum that he blew a chunk of his hard-earned house deposit on a flash car that even he admits will lose 6k of its 10k value in 3 yrs. Go on, guess....

EDIT: Oh dear, neas has changed his post. Luckily I have the original one "quoted". I dare say he's already gone back and altered the posts where he stated that he only had £15k in savings and spent £10k of it on a car. I wish I could change my finances so easy. Hang on. Yes, did I mention that I have £1M in ISAs and pension savings. Yep, well I do, so there.

joker1999

When the Housing market came for the FTB,
I remained silent;
I was not a FTB.
When they locked up the People who rent,
I remained silent;
I was not some who rent.

When they came for the STR
I did not speak out;
I was not a STR.

When they came for the BTL,
I remained silent;
I wasn't a BTL.

When they came for me, the mew,
there was no one left to speak out.



in other words, No one said anything about FTB's being priced out, we all got ridicule for living at home/renting.

Dithering_Dad

joker1999 wrote: »

When the Housing market came for the FTB,
I remained silent;
I was not a FTB.
When they locked up the People who rent,
I remained silent;
I was not some who rent.

When they came for the STR
I did not speak out;
I was not a STR.

When they came for the BTL,
I remained silent;
I wasn't a BTL.

When they came for me, the mew,
there was no one left to speak out.



in other words, No one said anything about FTB's being priced out, we all got ridicule for living at home/renting.

One of your mates then neas?

joker1999

Dithering_Dad wrote: »

p.s who looks the bigger idiot, the one who errs in a calculation on a post in a Money Saving forum, or the one who brags in a Money Saving forum that he blew a chunk of his hard-earned house deposit on a flash car that even he admits will lose 6k of its 10k value in 3 yrs. Go on, guess....

the guy in his underpants. Got to be the guy in his underpants.

joker1999

Dithering_Dad wrote: »

One of your mates then neas?

One of your stalkers actually, always found your posts...kinda a turn on really :iloveyou:

neas

Dithering_Dad wrote: »

Perhaps you should have demonstrated your obvious mathematical skills to yourself and decided to retain that deposit money for what it was originally intended?

Oh well, perhaps you'll catch the crash of 2018...

p.s who looks the bigger idiot, the one who errs in a calculation on a post in a Money Saving forum, or the one who brags in a Money Saving forum that he blew a chunk of his hard-earned house deposit on a flash car that even he admits will lose 6k of its 10k value in 3 yrs. Go on, guess....

I could afford to save... and buy a 'flash' car. I'd hardly call a 2005 Honda Civic sport.. that flashy. As for depreciating 6k in 3 years... you obviously haven't got a newish car before... or again are mistaking your maths.

Car Depreciation isn't linear.. it will lose the most value after the first year. As soon as you sit down in a new car or even a 2nd hand car you lose money... because its +1 more owner .

Besides this argument is meaningless. its like comparing apples and pears.

1. A car is not an investment to me (neither is a house BUT see 2)
2. I can buy a car outright... not owe anyone a penny... I cannot buy a house outright... I am at the mercy of the mortgage rates... and the market to if I fall into a negative equity trap.

Has anyone ever fallen into a car negative equity trap?

Dithering_Dad

neas wrote: »

As for depreciating 6k in 3 years... you obviously haven't got a newish car before... or again are mistaking your maths.

Car Depreciation isn't linear.. it will lose the most value after the first year. As soon as you sit down in a new car or even a 2nd hand car you lose money... because its +1 more owner .

You were the one who mentioned the car would lose 2k per year, so 2k x 3yrs = 6k, so if the maths are wrong then you're at fault. Please see below...

neas wrote: »

And yea my car will devalue but not as quick as if i'd bought a house it seems. Houses are loosing 1-2k a month according to stats.... car will loose 2k max a year .

That's 'lose' not 'loose'. You may have the edge on maths, but your English sucks.

neas wrote: »

Has anyone ever fallen into a car negative equity trap?

Yep, if you bought a new car on finance with a small or no deposit, then needed to sell it a few months later, you'd find that you owed more than the car was now worth. Negative Equity.

Keeping_Motivated

I wonder if Joker1999 and Neas light will ever be on at the same time?

Neas I think your posts show you are bitter and that you should look at yourself more instead of waiting til the people you are jealous of to have a turn in fortune to make you feel better.

Take care
KM