capitulation at this stage. 25% more to go at the price setting margins. Still loads and loads of denial for all to see. You don’t have to go far. But all those in denial are not the market makers, and have been irrelevant for some time now.
The game is up with the introduction of a property price register now. No escaping the hard nosed reality.
The wider public is not fearful of a fall in house prices, you would be very pushed to find somone who denies prices fell or that we are in the midst of the biggest et house price crash in the state. There is no hope for our economy. The recent KBC sentiment index is down whic supports this assertion.
I think we are closer to Dispondency / Capitulation. People want this to be the bottom if prices resume a significant downward trend we will go to depression.