Any other home buyers in NI?

qwert_yuiop

motorguy wrote: »

People paying interest on depreciating assets is an observation, not a delusion.

It is in my case, thank heaven . However in your earlier post you seem to think it's a good idea.

motorguy

qwert_yuiop wrote: »

It is in my case, thank heaven . However in your earlier post you seem to think it's a good idea.

I think sometimes its a means to an end for some people - for example a mortgage on a house OR finance on a car payment, to allow them to own the asset at some point in the future.

I dont have any particular issue with that, if thats what someone choses to do.

Going round in circles here (*sigh*), but an example of how paying interest on a depreciating asset instead of renting it might be

(a) a car, whereby it might be better to pay the car off over a period of time, than not own a car at all OR than to RENT the car. For example, my mate Invisible Dave has an 80 mile commute. His old car was very unreliable. Therefore he financed a new car so that he could get the reliability he needed. He'll own the car in three years time and he reckons he'll get several years trouble free motoring after that as it came with a 7 year warranty. That is example of how financing of a car might be a good idea for Invisible Dave in his circumstances.

(b) a house, whereby you may want to buy a house using a mortgage, and a house *might* be a depreciating asset, however in todays economic environment that is unlikely to happen. One of my wifes friends, Invisible Sheela has just bought her first home. Shes paid £45,000 for a town house, and she has a mortgage on it for £35,000. Shes read on the internet that there may be a dead cat bounce on prices and some doom and gloom merchant has told her it could be worth half that in 7 years time as 7 years ago there was a boom that burst. She doesnt really mind though as its a home not an investment.

qwert_yuiop

motorguy wrote: »

I think sometimes its a means to an end for some people - for example a mortgage on a house OR finance on a car payment, to allow them to own the asset at some point in the future.

I dont have any particular issue with that, if thats what someone choses to do.

Going round in circles here (*sigh*), but an example of how paying interest on a depreciating asset instead of renting it might be

(a) a car, whereby it might be better to pay the car off over a period of time, than not own a car at all OR than to RENT the car. For example, my mate Invisible Dave has an 80 mile commute. His old car was very unreliable. Therefore he financed a new car so that he could get the reliability he needed. He'll own the car in three years time and he reckons he'll get several years trouble free motoring after that as it came with a 7 year warranty. That is example of how financing of a car might be a good idea for Invisible Dave in his circumstances.

(b) a house, whereby you may want to buy a house using a mortgage, and a house *might* be a depreciating asset, however in todays economic environment that is unlikely to happen. One of my wifes friends, Invisible Sheela has just bought her first home. Shes paid £45,000 for a town house, and she has a mortgage on it for £35,000. Shes read on the internet that there may be a dead cat bounce on prices and some doom and gloom merchant has told her it could be worth half that in 7 years time as 7 years ago there was a boom that burst. She doesnt really mind though as its a home not an investment.

Was that worth reading? I didn't get past the first line I'm afraid

motorguy

qwert_yuiop wrote: »

Was that worth reading? I didn't get past the first line I'm afraid

And therein lies the problem. You dont read other peoples posts - you just want to take an opposing viewpoint on *something*.

As debating with you is like shooting fish in a barrel, i'm getting bored now so going to leave you to argue <insert opposing viewpoint here> with someone else.

qwert_yuiop

motorguy wrote: »

And therein lies the problem. You dont read other peoples posts - you just want to take an opposing viewpoint on *something*.

As debating with you is like shooting fish in a barrel, i'm getting bored now so going to leave you to argue <insert opposing viewpoint here> with someone else.

Actually I do, but having been stunned by the inanity of some of yours, I just couldn't resist.

I have to say some of the more asinine remarks are quite pleasing - they remind me of a bloke in the canteen who confided in me that he'd run up a 10,000 debt on his credit card, but he was keeping 5000 in his current account in case he had a financial emergency - "you have a financial emergency, man!" Then again, he - and you - are the reason the rest of us get an easy ride through life. Like my landlord, that sort of person subsidises my life.

Once you moved into puerile failed attempts at sneering humour I lost interest.

Oh well, you may be richer than I am. Although I suspect not.

marathonic

qwert_yuiop wrote: »

Actually I do, but having been stunned by the inanity of some of yours, I just couldn't resist.

I have to say some of the more asinine remarks are quite pleasing - they remind me of a bloke in the canteen who confided in me that he'd run up a 10,000 debt on his credit card, but he was keeping 5000 in his current account in case he had a financial emergency - "you have a financial emergency, man!" Then again, he - and you - are the reason the rest of us get an easy ride through life. Like my landlord, that sort of person subsidises my life.

I have 4500 on a credit card bill and significantly more in savings. I don't see the problem here. It's on 0% interest until March 2016.

But then I suppose you know the interest rate that your workmate is paying - just like you know how much your other workmates buy and sell their houses for and about 'money they saved in the Middle East'.

Your workmates are very open about their finances. Much more so than anywhere I've ever worked or anywhere I've heard of anyone working.... this is, of course, assuming I choose to believe what appears to be nonsense about people selling houses today at the same price they paid in 2002 and 2003.

I may have believed that one of them was true (people can pay silly prices or accept silly prices when buying and selling any asset but the possibility of two being duped so badly in the one workplace is pretty low).

And in the remote chance that these stories were true, who is going to base their opinion on the market on two anecdotal stories about property transactions as opposed to the numbers displayed by a little over 4,800 verified residential property sales recorded in Q4 2013?

qwert_yuiop

marathonic wrote: »

I have 4500 on a credit card bill and significantly more in savings. I don't see the problem here. It's on 0% interest until March 2016.

But then I suppose you know the interest rate that your workmate is paying - just like you know how much your other workmates buy and sell their houses for and about 'money they saved in the Middle East'.

Your workmates are very open about their finances. Much more so than anywhere I've ever worked or anywhere I've heard of anyone working.... this is, of course, assuming I choose to believe what appears to be nonsense about people selling houses today at the same price they paid in 2002 and 2003.

I may have believed that one of them was true (people can pay silly prices or accept silly prices when buying and selling any asset but the possibility of two being duped so badly in the one workplace is pretty low).

And in the remote chance that these stories were true, who is going to base their opinion on the market on two anecdotal stories about property transactions as opposed to the numbers displayed by a little over 4,800 verified residential property sales recorded in Q4 2013?

Absolutely true. You know nothing about where I work or who with. Interestingly, as I said earlier, both my colleagues' house sales support your contention that houses are going for bargain prices, and as is often said, money is made by buying when there is blood in the streets, and by being greedy when others are fearful. So if you'd had any gumption you'd have told me I'd demolished my own belief, and that this was the greatest buying opportunity of modern times. Who knows it may be. Odd.

Anyway, here's another cliched line (from U2) - it's no secret that a liar won't believe anyone else.

marathonic

I do believe houses are cheap now but I don't believe houses are cheaper now than they were in 2002. Just because I'm bullish doesn't mean that I'm going to accept any statement that backs up my opinion that house prices are cheap today without evidence to back up those statements. Basically, I'd rather base my opinion that houses are cheap today with the cold hard facts, not stories that people might be telling in your workplace.

motorguy

qwert_yuiop wrote: »

Anyway, here's another cliched line (from U2) - it's no secret that a liar won't believe anyone else.

So really you're saying

"I'm talking balls on this forum, you wont believe the balls i'm spouting, so therefore your argument is by default invalid, because U2 say that liars wont believe anyone else"

Brilliant!

:rotfl:

When you have to quote lines from U2 and stories about invisible friends to justify your viewpoint, its probably time to step away from the keyboard....

Have you thought about taking up a hobby? Or perhaps getting out more?

motorguy

qwert_yuiop wrote: »

you may be richer than I am. Although I suspect not.

So, living in a stop gap rented semi in waringstown, and any money you have in the bank you darent touch as you need it for a deposit for when you finally buy a house

Yeah living the dream!

:T