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Public Emotional response to house market
Poll ended at Sun Aug 01, 2010 1:02 am
Optimism 1%  1%  [ 1 ]
Excitement 1%  1%  [ 1 ]
Thrill 0%  0%  [ 0 ]
Euphoria 0%  0%  [ 0 ]
Anxiety 2%  2%  [ 3 ]
Denial 24%  24%  [ 31 ]
Fear 41%  41%  [ 52 ]
Desperation 15%  15%  [ 19 ]
Panic 3%  3%  [ 4 ]
Capitulation 6%  6%  [ 8 ]
Despondency 2%  2%  [ 3 ]
Depression 2%  2%  [ 3 ]
Hope 2%  2%  [ 2 ]
Relief 0%  0%  [ 0 ]
Total votes : 127
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 Post subject: Q3 2010 survey of Irish Market - Market cycle of emotions
PostPosted: Fri Jul 02, 2010 1:02 am 
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Previous polls: September 2007 | January 2008 | April 2008 | July 2008 | September 2008 | January 2009 | April 2009 | July 2009 | September 2009 | January 2010 | April 2010

Based on general conversations with your friends, colleagues, or intuition what do you reckon the public mood towards the house market is?

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 Post subject: Re: Q3 2010 survey of Irish Market - Market cycle of emotion
PostPosted: Fri Jul 02, 2010 6:04 am 
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With price falls of 50% we are past fear and denial at this stage.


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 Post subject: Re: Q3 2010 survey of Irish Market - Market cycle of emotion
PostPosted: Fri Jul 02, 2010 8:13 am 
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Might be better to do this by region at this stage as some parts of the country are further along than others


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 Post subject: Re: Q3 2010 survey of Irish Market - Market cycle of emotion
PostPosted: Fri Jul 02, 2010 8:50 am 
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I've voted fear but there are plenty of people in denial out there. Including people who have lost their jobs, lost income, can't pay their bills. I genuinely believe that they think that this is OK. They have an acceptability of their situation, akin to a sort of capitulation. They believe that they cannot do anything about it. Although there is a recognition of the issues, they have failed to move on from their current mind state. They are entered into a period of super stasis and will remain thus embalmed until the relic hunters come to dig them out (either when this is over or other drastic changes occur). My two cents, all personal opinion.

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 Post subject: Re: Q3 2010 survey of Irish Market - Market cycle of emotion
PostPosted: Fri Jul 02, 2010 9:08 am 
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Fear, absolutely. How can anyone think the cycle has moved beyond that to desperation? There isn't any sign of desperation reflected in current asking prices. The most voiced emotion we hear reflected in the media is fear -

What if I lose my job? What will I do if there isn't a NAMA for the people? When, oh when will prices return to normal?

Deperation will have to accompany a significant drop in house prices from where we're at. A few lemmings have dropped over the cliff but that's it. It's a slow process.

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 Post subject: Re: Q3 2010 survey of Irish Market - Market cycle of emotion
PostPosted: Fri Jul 02, 2010 9:20 am 
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wii4miinow wrote:
I've voted fear but there are plenty of people in denial out there. Including people who have lost their jobs, lost income, can't pay their bills. I genuinely believe that they think that this is OK. They have an acceptability of their situation, akin to a sort of capitulation. They believe that they cannot do anything about it. Although there is a recognition of the issues, they have failed to move on from their current mind state. They are entered into a period of super stasis and will remain thus embalmed until the relic hunters come to dig them out (either when this is over or other drastic changes occur). My two cents, all personal opinion.


I agree with you in respect of "stasis" some people out there are walking around in a dream and clinging on to the FF denial rhetoric of "it was beyond our control" and "nobody saw it coming" as a way to avoid any personal responsibility hoping that some politician will come along to bail them out.
If it were up to me I'd end that wish in a flash because this type of shit is one of the things thats wrong in this country (from the top down). So what do I think well based on what Ive seen in peoples faces and based on asking prices for property Denial it is as I dont think the shit has hit the fan hard enough yet to really frighten people but I do believe its coming.

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 Post subject: Re: Q3 2010 survey of Irish Market - Market cycle of emotion
PostPosted: Fri Jul 02, 2010 9:37 am 
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I used to be in the fear/denial camp but I've realized from speaking to a lot of people that there is an underlying hope out there. Founded by nothing but irrationality but never the less thats what I've seen. I think in the past I have confused the Irish market with a properly functioning market. The rules get changed and the goal posts will be moved constantly because the folk who need to supply this hope know it is directly proportional to saving their own arses. It comes back to a gombeen version of the solvency/irrational quote. I wouldn't use the cycle as choosing a time to buy. I'd rely on GNP and employment growth. For those out there bedecked in short sleeve checkered shirts, its as if the cycle sin wave has a dc offset that applies only when the slope is negative.

My two cent.


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 Post subject: Re: Q3 2010 survey of Irish Market - Market cycle of emotion
PostPosted: Fri Jul 02, 2010 9:46 am 
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FB2 wrote:
I used to be in the fear/denial camp but I've realized from speaking to a lot of people that there is an underlying hope out there. Founded by nothing but irrationality but never the less thats what I've seen. I think in the past I have confused the Irish market with a properly functioning market. The rules get changed and the goal posts will be moved constantly because the folk who need to supply this hope know it is directly proportional to saving their own arses. It comes back to a gombeen version of the solvency/irrational quote. I wouldn't use the cycle as choosing a time to buy. I'd rely on GNP and employment growth. For those out there bedecked in short sleeve checkered shirts, its as if the cycle sin wave has a dc offset that applies only when the slope is negative.

My two cent.


I could be wrong but you may be confusing hope with denial (or in the case of some people out there stupidity). :wink:

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 Post subject: Re: Q3 2010 survey of Irish Market - Market cycle of emotion
PostPosted: Fri Jul 02, 2010 9:53 am 
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For the most part, I reckon people are still in denial. I'm constantly amazed at the blasé attitude of some folk with regards to the market, the economy and the Govt. Its only now are there slight whispers of the govt. acknowledging some small part in the whole crash - that's denial. God forbid anybody mention a dead cat bounce or a double dip... they'll deny that'll probably happen. Sure aren't we out of recession already?! Or could that be denial?!


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 Post subject: Re: Q3 2010 survey of Irish Market - Market cycle of emotion
PostPosted: Fri Jul 02, 2010 10:02 am 
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Location: Over Macho Grande? I don't think I'll ever be over Macho Grande...
The most common statement I'm hearing is in and around...

"Surely, they won't fall much further..."

So disbelief is that denial or despondency?

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 Post subject: Re: Q3 2010 survey of Irish Market - Market cycle of emotion
PostPosted: Fri Jul 02, 2010 10:09 am 
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There you have it, folks. Six more weeks of winter.


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 Post subject: Re: Q3 2010 survey of Irish Market - Market cycle of emotion
PostPosted: Fri Jul 02, 2010 10:17 am 
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You could just cut and past previous surveys on here as, despite asking prices falling 30% or more over the past 30 months, comments and survey results are almost identical.

The % going for Denial, Fear and Desperation in previous surveys were:
Q1 '08 = 78%
Q4 '08 = 86%
Q1 '09 = 83%
Q2 '09 = 86%
Q3 '09 = 86%
Q4 '09 = 85%
Q1 '10 = 77%
Q2 '10 = 80%
Q3 '10 = 79% (so far)

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 Post subject: Re: Q3 2010 survey of Irish Market - Market cycle of emotion
PostPosted: Fri Jul 02, 2010 10:18 am 
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I voted fear, but I think it's a mix of fear and denial, depending on the individual. Asking prices definitely still indicate denial. There is a certain amount of fear behind closed doors though.


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 Post subject: Re: Q3 2010 survey of Irish Market - Market cycle of emotion
PostPosted: Fri Jul 02, 2010 10:19 am 
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The Unwelcome Guest wrote:
The most common statement I'm hearing is in and around...

"Surely, they won't fall much further..."

So disbelief is that denial or despondency?



Reassurance

''Yeah, I guess they won't fall any further...''

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 Post subject: Re: Q3 2010 survey of Irish Market - Market cycle of emotion
PostPosted: Fri Jul 02, 2010 10:43 am 
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I think when we see alot of fire sales from repossessions/liquidation, desperation & panic will kick in alot more than what we see now. Plenty of fear out there at the min.

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