This is undoubtedly one of the hottest property bull vs bear flame war threads on the property forum in a long time.
Scanning over the thread I get the impression from the long term bull posters, that they are now conceding the fact that the market is starting to show cracks. The response to this, however, is to point the fingers back at the bears and say that, for the bears to find happiness in the market falling, and wishing it fall further and faster, is akin to wishing ill will on generations of people (those who will suffer from falling prices). Ie - the bears are evil haters.
I think this perspective is completely flawed. Finding pleasure in the fact that the bubble is correcting is in principle no different to any bull who saw pleasure in the market continually going up by significant percentages each year.
The bull in the bull market undoubtedly felt pleasure about the fact that he was "getting ahead" in front of all those people who "couldn't save enough to get into the market". The same bull undoubtedly felt satisfaction at seeing his wealth grow (because this is only natural) - but refused to concede that that pleasure came at the expense of those people who were unable to afford the high prices that property had reached.
This rationale was supported in the bull mindset by the assertion that, well, if the bull could afford it, that didn't have anything special to do about the bull per se, but it was only because anyone else who couldn't afford it was too busy spending their money on plasma televisions and didn't possess the same work ethic or saving effort that the bull possessed.
Now, rather than accepting the fact that all markets are cyclic and property is entering a phase of correction (and the bears get their turn in property), the bulls are going down in a firey rage and pointing the finger in all directions. Of course, the bull can't blame the bear for the market correcting, so instead the bull accuses the bear of being an intrinsically evil hater with no soul.
Whoeever thought property could be such an emotional topic?! I am going to stick to stocks and come back in 2 years when the denial, anger and emotion has been replaced by acceptance.
