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.
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.
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!)