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Public Emotional response to house market
Poll ended at Mon Mar 31, 2008 11:39 pm
Optimism 0%  0%  [ 0 ]
Excitement 0%  0%  [ 0 ]
Thrill 0%  0%  [ 0 ]
Euphoria 0%  0%  [ 0 ]
Anxiety 5%  5%  [ 2 ]
Denial 35%  35%  [ 13 ]
Fear 43%  43%  [ 16 ]
Desperation 0%  0%  [ 0 ]
Panic 3%  3%  [ 1 ]
Capitulation 5%  5%  [ 2 ]
Despondency 3%  3%  [ 1 ]
Depression 5%  5%  [ 2 ]
Hope 0%  0%  [ 0 ]
Relief 0%  0%  [ 0 ]
Total votes : 37
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 Post subject: Q1 2008 survey of Irish Market - Market cycle of emotions
PostPosted: Sat Jan 12, 2008 11:39 pm 
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Based on general conversations with your friends, colleagues, or intuition what do you reckon the public mood towards the house market is?

Image


This is following on from the September 2007 survey.
There was also one in December (can't find link)

Survey for the UK market over at globalhousepricecrash.com

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PostPosted: Sun Jan 13, 2008 1:34 am 
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I voted fear but think there's also some denial in there. There are very few sales due to sellers being in denial about what people are willing to pay and not dropping their prices accordingly. Denial is fading quickly however with the mainstream media giving price drops lot of coverage, see friday's indo for a good example. There's also a two page colour ad for the Chicago spire in there too.


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PostPosted: Sun Jan 13, 2008 1:36 am 
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I think fear has well and truly taken hold although there is a hint of denial from some quarters


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PostPosted: Sun Jan 13, 2008 2:15 am 
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I went with capitulation but then again I'm talking about the States.
We are a little further down the graph than over there but I think ye'll catch up. :D

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PostPosted: Sun Jan 13, 2008 11:11 am 
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I think the herd is moving quite slowly on this one and it's still in anxiety. The VIs are in denial, but the mass is still vaguely concerned but believe the VIs who say the market will rise this year.


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PostPosted: Sun Jan 13, 2008 11:27 am 
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yoganmahew wrote:
I think the herd is moving quite slowly on this one and it's still in anxiety. The VIs are in denial, but the mass is still vaguely concerned but believe the VIs who say the market will rise this year.


I would say the VI's are ahead of the general public somewhat and I would definitely think the banks are at the desperation stage with the credit crunch and easy funding dried up, as are the developers who are shoving the properties they can't sell onto the rental market to get keep cashflow going.

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PostPosted: Sun Jan 13, 2008 11:49 am 
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I would say 90% denial. People are still not dropping their prices en-mass. Only distressed sellers are dropping.
Also the VIs are still spouting rubbish about the bottom being reached. The average seller has to be psychologically beaten into reducing their price. This will take time. I can't see us moving out of denial until August 2008. I don't see a smouth transitition either. It will be denial up til August and then panic.

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PostPosted: Sun Jan 13, 2008 12:17 pm 
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I still think we're in the denial stage. There's still a lot of comments about 2008 being a great time to buy and that it's a buyer's market. Also, plenty of people who can't accept that their properties aren't worth what they thought they were.


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PostPosted: Sun Jan 13, 2008 12:26 pm 
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I think Duplex sums it up perfectly with this post in another thread:

Quote:
We are still in a stand off or more correctly a perceived stand off. Sellers believe that buyers are fooling around in some half arsed who will blink first amusement. They (sellers) believe that the market will adjust a little and that normality will return, once this inconvenient episode passes. Some sellers tired of waiting have reverted to the rental market, others will pull their property from the market (shadow inventory) with the intention of returning once normality is restored. We are still in the denial phase; people in general require incontravertable proof before they give up a dearly cherished belief. The slope of hope.

For comparisons sake have a look at inventory and price data from Los Angles a city several months further along the curve.


http://snipurl.com/1x2bc


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 Post subject: Re: Q1 2008 survey of Irish Market - Market cycle of emotions
PostPosted: Wed Oct 08, 2008 8:38 am 
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somewhere between fear and panic now methinks?

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 Post subject: Re: Q1 2008 survey of Irish Market - Market cycle of emotions
PostPosted: Wed Oct 08, 2008 9:21 am 
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Sorrel_Kid wrote:
somewhere between fear and panic now methinks?


I was going to say between denial and fear but then 2 of my friends just bought houses for too much money (one a new build in Balbriggan :cry: ) so I'd imagine they'll be sticking with the Egyptian boatmen for sometime to come.
Would like to see a more up-to-date version of the poll to see have far down the slope we've gone.


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 Post subject: Re: Q1 2008 survey of Irish Market - Market cycle of emotions
PostPosted: Wed Oct 08, 2008 9:31 am 
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Aloysius wrote:
Sorrel_Kid wrote:
somewhere between fear and panic now methinks?


I was going to say between denial and fear but then 2 of my friends just bought houses for too much money (one a new build in Balbriggan :cry: ) so I'd imagine they'll be sticking with the Egyptian boatmen for sometime to come.
Would like to see a more up-to-date version of the poll to see have far down the slope we've gone.


Q4 2008 version here:
viewtopic.php?f=4&t=13807&p=132802


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 Post subject: Re: Q1 2008 survey of Irish Market - Market cycle of emotions
PostPosted: Wed Oct 08, 2008 10:03 am 
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What Goes Up... wrote:
Aloysius wrote:
Sorrel_Kid wrote:
somewhere between fear and panic now methinks?


I was going to say between denial and fear but then 2 of my friends just bought houses for too much money (one a new build in Balbriggan :cry: ) so I'd imagine they'll be sticking with the Egyptian boatmen for sometime to come.
Would like to see a more up-to-date version of the poll to see have far down the slope we've gone.


Q4 2008 version here:
viewtopic.php?f=4&t=13807&p=132802


thanks


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