{"id":11019,"date":"2010-05-20T13:11:35","date_gmt":"2010-05-20T20:11:35","guid":{"rendered":"http:\/\/seattlebubble.com\/blog\/?p=11019"},"modified":"2011-04-21T10:58:36","modified_gmt":"2011-04-21T17:58:36","slug":"treading-water-between-fear-and-desperation","status":"publish","type":"post","link":"https:\/\/seattlebubble.com\/blog\/2010\/05\/20\/treading-water-between-fear-and-desperation\/","title":{"rendered":"Treading Water Between Fear and Desperation"},"content":{"rendered":"<p>It&#8217;s been <a href=\"http:\/\/seattlebubble.com\/blog\/2007\/08\/21\/somewhere-between-anxiety-and-denial\/\" title=\"Somewhere Between Anxiety and Denial\">quite a while<\/a> since we had a look at the &#8220;Cycle of Market Emotions.&#8221;<\/p>\n<div style=\"margin: 5px auto; font-size: 0.8em; text-align: center\"><strong>The Cycle of Market Emotions<\/strong><br \/>\n<img loading=\"lazy\" decoding=\"async\" src=\"http:\/\/seattlebubble.com\/blog\/wp-content\/uploads\/2007\/08\/market_emotion_cycle.png\" style=\"border: 1px solid #000000; margin: 5px\" title=\"Cycle of Market Emotions\" alt=\"Cycle of Market Emotions\" height=\"225\" width=\"390\" \/><\/div>\n<p>Last time, in late 2007 as prices just began to decline here in the Seattle area, I pegged our location on the curve at somewhere between anxiety and denial.  Today I&#8217;d guess that we&#8217;re holding fairly steady between fear and desperation.<\/p>\n<p>Here&#8217;s a quick highlight of where the market is at today:<\/p>\n<ul>\n<li><a href=\"http:\/\/seattlebubble.com\/blog\/2010\/05\/13\/foreclosures-remain-highly-elevated-in-april\/\" title=\"Foreclosures Remain Highly Elevated in April\">foreclosures still increasing<\/a><\/li>\n<li><a href=\"http:\/\/seattlebubble.com\/blog\/2010\/04\/27\/case-shiller-seattle-home-prices-pass-25-off-peak\/\" title=\"Case-Shiller: Seattle Home Prices Pass 25% Off Peak\">prices declining slowly<\/a><\/li>\n<li><a href=\"http:\/\/seattlebubble.com\/blog\/2010\/05\/14\/puget-sound-counties-interactive-april-update-2\/\" title=\"Puget Sound Counties Interactive April Update\">sales boosted through the spring<\/a><\/li>\n<li>Post-tax credit, <a href=\"http:\/\/www.reuters.com\/article\/idUSN1922536920100519?type=marketsNews\" title=\"Loan demand to buy US homes sinks to 13-year low\">mortgage purchase applications have dropped to a 13-year low<\/a><\/li>\n<li><a href=\"http:\/\/seattlebubble.com\/blog\/2010\/05\/18\/checking-in-on-skyrocketing-interest-rates\/\" title=\"Checking in on SKYROCKETING Interest Rates\">interest rates still at record lows<\/a><\/li>\n<li><a href=\"http:\/\/globaleconomicanalysis.blogspot.com\/2010\/05\/interactive-map-of-failed-banks-since.html\" title=\"Interactive Map of Failed Banks in 2010\">banks failing at an increasing rate<\/a><\/li>\n<\/ul>\n<p>While there may be signs of a bounce-back off the bottom for the economy as a whole, I have a hard time believing that the Seattle-area housing market has really &#8220;hit bottom&#8221; yet, either in terms of home prices or with respect to the cycle of market emotions.<\/p>\n<p>What do you think?  Have we hit capitulation or despondency yet, or are we still treading water somewhere between fear and desperation?<\/p>\n","protected":false},"excerpt":{"rendered":"<p>It&#8217;s been quite a while since we had a look at the &#8220;Cycle of Market Emotions.&#8221; The Cycle of Market Emotions Last time, in late 2007 as prices just began to decline here in the Seattle area, I pegged our location on the curve at somewhere between anxiety and denial. Today I&#8217;d guess that we&#8217;re&#8230;<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"jetpack_post_was_ever_published":false,"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":false,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2}},"categories":[199],"tags":[750,671,29,307],"coauthors":[],"class_list":["post-11019","post","type-post","status-publish","format-standard","hentry","category-opinion","tag-emotions","tag-market-cycle","tag-psychology","tag-real-estate-psychology"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v26.2 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Treading Water Between Fear and Desperation \u2022 Seattle Bubble<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/seattlebubble.com\/blog\/2010\/05\/20\/treading-water-between-fear-and-desperation\/\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:title\" content=\"Treading Water Between Fear and Desperation \u2022 Seattle Bubble\" \/>\n<meta name=\"twitter:description\" content=\"It&#8217;s been quite a while since we had a look at the &#8220;Cycle of Market Emotions.&#8221; The Cycle of Market Emotions Last time, in late 2007 as prices just began to decline here in the Seattle area, I pegged our location on the curve at somewhere between anxiety and denial. 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