Thursday, May 21, 2009
Stupid headline - more spin on same press release
Metro: Homes blow as mortgage lending falls 9% in a month
How is that a 'homes blow'? The houses are still there, aren't they?
Posted by mark wadsworth @ 10:25 AM (1006 views) Add Comment
9 Comments
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1. wdbeast said...
Mark, I agree!
Also mortgages are not down 9%,
THEY ARE DOWN 60% ON LAST YEAR.
Do we report retail figure versus last month, if we did we would report rather worrying figures every January!
2. Tonkey said...
mark wadsworth, the houses are still there so everything is ok. Thanks for that.
3. Andy H said...
I think they mean "Housing market sucks as lending down 9% in a month"
4. doomwatch said...
Some last Spring frost of those green shoots.
5. wdbeast said...
"Do we report retail figure versus last month, if we did we would report rather worrying figures every January!"
OMG I'm wrong again!
From BBC news today
"UK retail sales increased much more than expected in April, the latest official data has show.
Sales rose 0.9% last month compared with March, almost double analyst expectations, said the Office for National Statistics (ONS)."
What use is reporting a seasonal business like retail or housing sales versus last month, TW4TS!
6. mark wadsworth said...
@ wdb, your original point still stands though!
Remember also that the VI's Spring Offensive was based on very tenuous data, comparing Mar with Feb and Feb with Jan, which has now all unravelled nicely.
7. icarus said...
I blame the timing of Easter. If it weren't for that there's be no recession.
8. 51ck-6-51x said...
icarus - aha, now we have it. It is all tied into the seasons. That must be why wave models work ;p
9. it_is_going_with_a_bang said...
Nice to see the Easter Bunny getting a slice of the blame for it all.
Bet Santa can't wait for December so he can have some of the action.