Friday, May 30, 2008
Get your panic sensitive black sunglasses out
Daily Telegraph: House price data adds confusion to an already volatile market
Basically an article that shows how different the stats are. Clearly there's a view (read the comments) that because the numbers are all created in a different way, it's best to forget looking at them as they are misleading. Except, that is, if they point upwards.
"But, as Ms Barnes (Savills) is quick to point out, putting indices and predictions together, especially in the current climate, is not easy, nor possibly even advisable. Ms Barnes said: "Just by looking at an index, you cannot tell what is going to happen to house prices. Indices are backward-looking. The thing is to do is not to latch on to one single month's movement."But unless you are buying or selling at the moment, it might be best not to look at them at all."
Ha ha. So if they're bad, ignore them.
4 Comments
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1. Jackas said...
How DARE an estate agent suggest that people should ignore a downward index movement.
I didn't see many estate agents ignoring these indicies on the way up - and as a result everybody is now suffering.
Scumbags.
2. mrmickey said...
I'd love to see what the real falls are adjusted for inflation now running at 10%, too scary to print no doubt.
3. paul said...
Oh this is rich.
Telling people to ignore statistics when they paint a negative picture - akin to saying "Ignore those bad news figures while we try to muddy the picture for you"
4. little professor said...
"All this information is great for us researchers but it is very confusing for the average punter
"What is most confusing are the monthly indices. I just don't think it is helpful to produce monthly indices in a market that takes longer than a month to move."
There was plenty of this in the RICS report this month, too - thinly veiled requests for Haliwide to stop producing their monthly reports because they are scaring the poor sheeple too much. It's too confusing for them, telling them house prices are falling. After all, house prices only ever go up, so how can they be going down? It's like, mindblowing, man!