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Anecdotal: My Mate Has Beaten The Credit Crunch....!

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Just spent a few days working with a mate of mine and this has meant we've spent several hours traveling in the car together. Anyway various reports on the radio have prompted discussions about hous prices etc.

One particular report was the one about FTB's or buyers in general now needing 30% + deposits for houses. My mate thought that that was ridiculous and they should just go back to >95% LTVs :rolleyes: (I'm figuring that he got an LTV like that).

Of course it fell on deaf ears when I pointed out to him that the simple problem is hous prices are too high and that the high LTV ration at the momemt was an indication of how stable the banks thought house prices were by making the borrower take majority of the risk. For a seemingly intelligent individual he couldn't grasp this idea!

Anyway he said he was alright because he recently had his house valued and it has gone up in value. Said his "shoe box house" (words used by him during the week in another conversation about his garage, which doesnt have a car in) has gone up in value from when they bought 2 years ago. Bought new build, end of terrace house on new estate in Witney Oxfordshire for £225,000 now reckons it is worth between £250,000 - £255,000 :unsure:

Then went on to tell me that he has also made money on the XC90 he bought 18mths ago too. Said that he paid £14,000 for a 55 plate with 30K miles on it. It now has about 50k miles on it and he reckons it's worth about £16 - £17K :blink:

However, what he forgot is when he bought it he told me how much he paid for it which was £19,500 (I have a pretty good memory ;) ) I remember this because I got told what a bargin it was when he bought it; "£40k car.....under £20K.....yadda yadda yadda....."

So, whilst the rest of the world is in fincial turmoil it would seem that my mate has miraculously managed to avoid all this by simply 'buying' in the right part of Oxfordshire and buy 'buying' a 4x4.....!

Anyone else got mates like this?

BF

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Is your mate AKA as 'Captain Bullsh1t'?

lol

That's exactly my point, why on earth do people lie like this.....?

It kind of f**ks me of because they must think you're as f**king thick as them :angry:

I just don't get it :(

BF

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...

That's exactly my point, why on earth do people lie like this.....?

....

Its a safety valve. The gentleman probably now believes that he did pay 14K for the tw@t-waggon not 19K.

Humans do it all the time. You can get Valium if your imagination doesn't work. Same effect - feel better anyhow.

If you try to force people to face reality they will distort it even further. Best just to go along with it, be nice and talk about the weather - that's what we Brits do so well.

Edited by non frog

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lol

That's exactly my point, why on earth do people lie like this.....?

It kind of f**ks me of because they must think you're as f**king thick as them :angry:

I just don't get it :(

BF

Denial is not just a river in Egypt.

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I know peoplw who drive second hand cars for a couple of years and always make a profit selling them. Except they don't of course, except in their own imagination. Some people claim to earn far more than you know they do for the same reason, they just want you to believe they far cleverer than they really are and don't seem to realise they reek of ********.

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This miraculous price increase your friend claims for his house is incredible! :rolleyes:

3 Bed detached on same estate came on the market for £210K the other week - it sold quickly, but other 3 beds (detached) on same 'new' estate are around 250K or above and not selling.

2 beds have 'sold' between 175K - 185K. (houseprices.co.uk)

you better tell him he's 65K- 75K out of his imaginary pocket now! :ph34r:

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So, whilst the rest of the world is in fincial turmoil it would seem that my mate has miraculously managed to avoid all this by simply 'buying' in the right part of Oxfordshire and buy 'buying' a 4x4.....!

Anyone else got mates like this?

BF

I know a few people like this, but they are not "Mates". I asume he is a work mate.

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deffo, wages are definately a great topic for exaggeration.

had a friend who earned loads more than me.

till he came to work for me.....the old P45 is such a tell tale.

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Some friends of mine bought a 3 bed semi in the Cogges estate in Witney close on 3 years ago. They got it for just under £200k then, and allegedly it went up to £240k at the peak. Now they've told me they think if they had to sell it within the next 6 months or so they'd struggle to sell it for what they paid for it.

Another anecdotal from Witney, a work colleague of my girlfriend was trying to sell her 3 bed semi also on the cogges estate for ~£245k about 6 months ago, she was hoping to trade up. She managed to get some interest in the place and even one young couple who were getting quite serious about buying. Unfortunately for her, and fortunately for common sense, the young couple found a 3 bed detached for £200k somewhere nearby in Witney and bought that instead. The lady in question, who bought the house for under £100k many moons ago, wouldn't sell for less than it was 'worth' or take the 'loss' and drop the price so she decided to stay put and build an extension.

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That's exactly my point, why on earth do people lie like this.....?

It kind of f**ks me of because they must think you're as f**king thick as them :angry:

I just don't get it :(

If you think he's such a twit, and you're ready to slag him off to a bunch of strangers, why exactly do you refer to him as a "mate"?

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Its a safety valve. The gentleman probably now believes that he did pay 14K for the tw@t-waggon not 19K.

Humans do it all the time. You can get Valium if your imagination doesn't work. Same effect - feel better anyhow.

If you try to force people to face reality they will distort it even further. Best just to go along with it, be nice and talk about the weather - that's what we Brits do so well.

No. I am so fed up with listening to people's delusional bullplop I now call them up on it and they can get lost. No time for them. I wish more prople would stand up to it.

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I bet he's got his prat5 on credit as well, and is paying something like 18.9% on the £25k he paid for it (if he's lying now I bet he was lying then too).

I love pompous prats that announce they've had their house valued for no good reason. Why? And by who? Their dog?

More likely he was trying to MEW and they told him to x5 off.

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