Q1 2009 survey of Irish Market - Market cycle of emotions

Public Emotional response to house market

  • Optimism
  • Excitement
  • Thrill
  • Euphoria
  • Anxiety
  • Denial
  • Fear
  • Desperation
  • Panic
  • Capitulation
  • Despondency
  • Depression
  • Hope
  • Relief

0 voters

Previous polls: September 2007 | January 2008 | April 2008 | July 2008 | September 2008

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

Panic will happen this year if Fianna Failure start forcibly cutting public posts and salaries.

I think we are in the Fear stage. But I think we will move very quickly to desperation after Q1.

I think we are between Denial & Fear.

I am astonished by the number of people I know that still think “their” house is “worth” more than what the local going rates currently are, never mind in 3 to 6 months time. Am sick of telling people to wake up & smell the coffee :frowning:

i believe that privately Irish society is entering fear but publicly are willing to make an attempt to talk it up, it’s all that’s left.

Has to be denial for the vast majority of people i meet.

Yep waiting to tip fully into Fear. Denial is a sticky one helped by figures out that say US houses fell by 22% in 2008, UK fell by 16% and Irl fell by only 10%, spot the difference, US and UK are actually accurate and not pulled out of an intestinal nadir. I do think fear will be short lived though. It should be well upon us by March from the unemployment figures but as the flood gates open I think we’ll see panic at the falled autumn selling season.

I see Country Tom has hit the Pin :confused:

i suppose it’s a matter of perspective. perhaps the “euphoria” voter is surrounded by people delighted that they’ll be able to buy property at a reasonable price in the not so distant future… :wink:

last stages of denial for me, fear will follow very shortly.

I think Ireland has created a new state between denial & fear, lets call it ‘befuddled’

Well. It’s definitely capitulation for those buying… Hold off, hold off, is the message cried from the rooftops… Capitulate into settling in for the long haul.

For the sellers, it’s definitely fear. And for a moderate few, panic.

For the establishment, desperation.

It’s remarkable.

We’re only starting to move into Fear. The British on the other hand are a year or so behind our crash and they’re already starting to move into Desperation (BTL’ers are starting to get slaughtered over there).

Are we the most stubborn, pig-headed nation in the world?

WE’RE NUMBER ONE !!!
WE’RE NUMBER ONE !!!
WE’RE NUMBER ONE !!!

Yes.

If you are using this as a yardstick you will never leave the state of denial. :laughing:
Easy to see you are not an estate agent.
As an EA I can assure you, people always think their house is worth more than the local going rate.
Always !

No.
The Brits went through it recently enough in the 90s, hence the people know it can happen.
Consequently they smell the coffee earlier.

Could be the true to an extent. The UK is also more open, they publish the prices on land registry, so you can see in a reasonable period of time what the neighbours house really went for. Here you can lie and claim to have sold for €500K, but only actually got €325K, nobody is any the wiser (unless that person happens to be a neighbour, who gets on well with both seller and buyer and the EA of course :wink: ).

I think it’s fear but there’s still some denial out there.

Interesting point about the lack of transparent information on actual selling prices. All anyone can work on now is anecdotal information and what’s coming from various vested interests :frowning:

I would interpret Brendan O Connors performance on Tubridy as fear, and a good indicator of widespread sentiment.

The audience reaction seemed to reek of denial rather than fear, judging by the applause.