Q2 2008 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

Following on from the January Q1 2008 poll.
Based on general conversations with your friends, colleagues, or intuition what do you reckon the public mood towards the house market is?

Survey also being carried out in parallel onGHPC for the UK.

Moving into fear I think at this stage.

Agree but its pretty slow going. Denial is still rife…but fear is on the horizon.

Given the lack of houses coming on the market, in south Dublin anyway, I think people are afraid to put their properties on the market for fear of finding out how much they might be worth.

Very off topic, but where is mr anderson these days? I enjoy his posts and he gives great insight into what the EAs are thinking.
And he seems a very honest sort (for an estate agent!) :wink:

He must be too busy, what with the Spring selling season and all!

Maybe he skipped the country just like Murrayo :wink:

Im here.
I only say something if it contributes to discussion, otherwise I stay quiet.

Shoosh…

Yes, we’re in the denial phase…the denial of the masses of pent-up-demand-ers who think their dream home is going to drop within their price range!! :smiley:

It ain’t just a river in Egypt evidently… :unamused:

Would anyone on the PIN be able to code up a little java script or something something of that nature that would interface with an image map of the above graph?

I outlined this a long time ago, under teh titel “PIN-DEX”

The idea is to log the clicks and display the result real time instead of a poll which is only a snap shot in time.

SO for e.g. a big coloured dot would hover over the average position.

or

as the users click on the curve, the output could be like a speed dial type graphic which points to either of the extremes as everything in the middle.

Goodness.

What a novel concept.

You’ll never get to a thousand posts at that rate!

How is the spring season Mr A ?

Some stuff moving alright, I’ve noticed quite a few SOLD and SALE AGREED signs over the last 6 weeks or so.

Mind you I’ve noticed alot disappear too.

What’s the view in your office and the industry generally ?

As of this week, (ie BOS 90%/80% morts)

I believe we are firmly begining to enter the Fear stage.

I also think that the duration of the denial phase has been extended, resulting in the fear phase bing accelerated.

Ie the graph for ireland has been distrorted, indeed we are different

Denial it is.

I’ve never witnessed an entire country putting their hands over their eyes, covering their ears, louding saying “la,la,la,la,la” and pretending that it will be ok in the morning, every morning, for over 18 months before.

Initially it was fascinating but now it’s becoming quite disturbing.

Yesterday, when paying for lunch in a bar in town, I was in mid jovial conversation with friends.
“I’ll get it said one”, (lying !), “You’ll have to, my cash is all tied up in property…” said another.
“Well that’s a smart place to keep your cash nowadays…” says yours truly - Only to be corrected by the Barman:

“It’s still a smart place … In certain areas…”

This canny, a BARMAN, delivered this nugget to me with a knowing eye and a wagging finger.

It reminded me instantly of the shoeshine boy …

It’s still DENIAL folks. :open_mouth:

Domestically, i’m not convinced, but profesionaly, the games up.

Well, the Egyptian river is flowing through the county of Waterford too.
An article in a local paper yesterday had an EA harping on about the strong demand, market picking up, bla bla bla… :unamused:
Can’t help but feeling a bit disheartened at times though - how many people read this tripe and actually believe it?
Too many would be my guess and even though there are around 1280 houses for sale in Waterford City alone prices aint budging on paper anyway :confused:

Today I believe is the Day the Mainstream Irish print media started the wholesale move from Denial to Fear.

All of the newspapers are full of what would even weeks ago were described as the ravings of a few internet loonies and McWilliams groupies

Even Kiberd who has maintained a don’t talk it down, nothing to see here attitude as recently as two weeks ago seems to have woken up to the fact that the game is up. The penny seems to have dropped in his article today.

The Pin’s Mortgage broker himself has played no small part.

People who were weeks ago decrying me for being a doom monger are begining to acknowledge that the truth is as plain as your face.

Many sellers who bought say 2004 are still looking to clear profit on houses bought but I expect the move to fear led pricing is on the verge of explosion.

We have had what is widely acknowledged as a 15% drop and yet repossesions are still very low. This 15% hasn’t even been driven by forced sales or Repo sales
Developer panic is begining to transmit itself to the wider market.

Advice to anyone selling a gaff.(from someone with no qualifications)
Cut your price Now
Cut it hard
sell before your neighbour does…

or settle in to your home for the next decade