Q3 2015: Survey of Irish Market - Market cycle of emotion

Public Emotional response to the 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 | July 2012 | October 2012 | Jan 2013 | July 2013 | Jan 2015 | April 2015

Still in denial afaik

I think its still at the thrill or Euphoria stage. I don’t think its falling yet. But we will see.

For denial there has to be some knowledge that things are starting to go south but most vendors seem blissfully unaware of this as they price for the skies and then moderate to a slightly less insane asking.

Between Euphoria and Anxiety for me. It’s that 2007-2009 phoney war all over again.

That makes sense - my denial should really have been Euphxiety.

I think it has moved on from Anxiety in the last quarter to Denial now.
Those that can accept it are taking a shower now to avoid a bath later but there is still plenty of 2007-9 phony war type sellers out there in denial that they won’t achieve what their asset is “worth” for the forseeable future.

There isn’t an option for acceptance. I know the market has probably topped out but I still want to buy just to get on with my life. The whole cyclical thing has broken me.

I think the “emotions” shown on the graph above are just markers for where you think the market is headed rather than being indicative of your own personal feelings.
If you think that the market is on a downslope and want to buy anyway or if you feel the market is rising but you are choosing to sell and rent (for whatever reasons) then your personal feelings will be different from your perception of where the market is headed.
(i.e. “Thrill” is just a marker for a point on the curve with a positive slope

it doesn’t have to correspond to how you feel about the market being on that trajectory!)

As a buyer I’m in complete denial that these prices are normal.

If I was a seller I think I would be pretty desperate to offload.

So I guess we’re in fear. At least I am.