Q3 2012 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 | January 2009 | April 2009 | July 2009 | September 2009 | January 2010 | April 2010 | July 2010 | September 2010 | January 2011 | April 2011 | July 2011 | October 2011 | January 2012

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

Needs entry for “False hope”

The Irish establishment has proceeded directly from Denial to Hope. Reality is somewhere in between.

could we add a category for “Hopeless optimism” ? I hate to select Hope as it would seem I am be suggesting us further along than we really are.

Impressive shift in perceived emotion with only 20 votes in.

Roll on the database

Capitulation - the act of surrendering or yielding

At this point, anyone who clicked Denial is involved in a spot of projectionism.

I think we need a ‘light at the end of the tunnel’ option shoehorned in there somewhere

For me, all the recent talk of market bottoms and recovery smacks of Desperation.

Interesting. With panic just around the corner if/when the index starts dropping into the winter?

My head is inclined to agree with you.

My something else is starting to panic that we’re at the bottom.

Be interesting to see a rural/urban split in this poll definitely now at the time that the market is very differnet where you are located.

Agree. One final big concerted effort a la “Battle of the Bulge”!

To the observer perhaps. But the key about the emotion is not who’s seeing it, but who’s feeling it. I think there probably is a lot of genuine “hope” out there. Not people who feel desperate, but who actually do think that things are on the turn.

Yeah we’ve rapidly gone from 5 years of Denial to a mix of Hope and Relief.

We’ll probably keep bouncing back and forward between those two states for another 5 years.

Interesting take.

I don’t know. Denial, Fear and Flash’s spin on Desperation all make sense. Price database, the insolvency legislation and the Budget will all have big effect…so we’ll know better by, sigh, next Spring selling season.

Went for Desperation as people selling now are only those that have to. Could just as easily be Capitulation though. I think government measures could/will blunt some of the points on this chart so a bit hard to pinpoint exactly where we are on it now.

Could be some panic for SCD buyers who aren’t seeing the number of properties for the prices they expect come on to the market :angry:

Well as I think I have missed the bottom of the market I have gone for Depression.

Seems like Jiimmy Connors on Irishlandlord has gone full out,balls to the wall,optimistic on the Irish property market.

I voted for Desperation, for me I think we are getting all the classical signs associated with desperation in a dead cat bounce…
Fundamentals of the economy have not improved, common sense would tell you that insolvency legislation will put more supply in the mkt and Volume needs to come in and confirm price moves. I have seen it with my own eyes properties moving but nothing of any substantial that causes me to start calling a bottom.

What they seem to forget like I said over 4-5 yrs ago, the rules of the game have changed… Property is no longer seen as a means for the masses for getting rich, therefore this section of the population will not take part in the property game again for a long time…Also all those who got in late will not get in again anytime soon, it is now for the professionals out there where yield, location and yield is the mantra being chanted and for those who see it as it should be a family home…
For me I still think price has further to go but I do believe that better quality will be got…One big thing i have noticed over the last few months in Galway County, Quality of property is improving and the prices are lower…
City however supply is tight but prices are lower…However this varies widely as some properties coming on line need quite a lot of work and this needs to factored into the overall cost…
One last thing, many were calling the mkt a top in 05/06, we had to wait for that to eventually come through, just like at the top we will have have to wait a number of years for a bottom to happen…Yes its one point in time but the calls for the bottom happen many times because too many cannot seperate emotion from facts!

Meet these guys many times, what we call heroes! Heroes at the time of the call, that will let us know for the rest of their life if they are right “I called the bottom”. But heh if their wrong and with the human mind forgetting anything above 2 weeks they will fall by the wayside along with their call…Backs up my previous statment about emotion… There is a better chance of ireland winning the world cup in cricket then there is of finding a landlord that talks down property…