Middle Class and retired…Denial
Middle Class and 40 something with two mortgages and childrem at school of college …Fear
Middle Class and as above plus just been handed redundancy …Desperation
Now to be honest it could be any class if there is such a thing nowadays but above is how I see it. Quite simply depending on your financial circumstances determines where you are on the cycle but from an overall perspective the more unemployment and the more bad news the further along the cycle we move, the problem will be if we get stuck at the bottom of it and for how long?
Denial has been around far longer than most of us would have expected.
I think the very good summer we’ve had this year maybe added to this
but when the short dark(4:30) winter days start to close in we might finally move on to fear.
I remember thinking back in 2006 when the debt fueled psychosis was at it peek that the
six straight weeks of sunshine and best summer on record were adding to the elation.
They say people who suffer from S.A.D. (depression due to lack of sunlight, vitamin D)
should not make life changing decisions during the winter months,
there should be a similar warning when it comes to buying property during the long giddy
days of summer, though it is great for the VIs rounding up the last few suckers.
Denial. When you bring the subject up, people just don’t want to talk about. It doesn’t help that the Irish media are doing their best to distract everyone from what is going on. I don’t really care that Clowen is smoking in Croke Park but I do care that he has sold my future, and that of my children, down the swanee. IMHO, it’ll take a seismic shock to jolt the Irish out of Denial. We’re slow to face up to reality and very easily distracted by trivial nonsense. Long way to go for the market and even longer way to go for market emotion.
who’s in denial?? Everyone has well and truely accepted we’ve had a severe recession and things aren’t getting any better…things will turn around, but it will take some time. I think people have now acceptedd how screwed this country is and aren’t waiting on a miracle anymore
Fear …Personally feel that joe public is beginning (and i mean just beginning) to look at property in terms of affordability …ie relative to actual income. Having a jumbo mortgage now is like carrying a sandwich board with I f**CKED UP BIG STYLE on it. Nobody wants them even if the banks would give them and the people who have been trying to sell for the last two years are starting to realise this. Roll on Desperation.
Looking at my last few votes, there’s been no consistency. I’ve vacilated from denial to fear and back again. Now I’m back to fear. I think the latest slew of bad news has put the frightners on a lot of people. Although their private fear is overtaken by their massive public denial.
I guess because while people understand that other people’s properties have dropped by 35-50%, theirs haven’t dropped at all. It’s really amazing. Don’t forget that it’s the market cycle of emotions, not where you think we should be on the market curve i.e. it could be that the emotions corresponding to different stages are wrong.