Households paying mortgages with credit cards

StevieJ

Could pay the monthly mortgage with two first class stamps if they would accept them.

stueyhants

So people (bulls mainly) are generally dismissive of this report mostly saying that the methodology is simplistic and drawing conclusions about who the million people are (renters or OO) is flawed.

So do people think the approach taken by the Halifax and nationwide of averaging house prices and applying blunt mix adjustment factors which aren't published or subject to scrutiny a more valid approach to data analysis

HAMISH_MCTAVISH

stueyhants wrote: »

So people (bulls mainly) are generally dismissive of this report mostly saying that the methodology is simplistic and drawing conclusions about who the million people are (renters or OO) is flawed.

Seeing as how you believe it is "bulls" being dismissive, perhaps it's best for you to read this excellent reply by one of the more respected hpc posters (jadoube).

I agree with every word you say. An insane thing for people to do.

OTOH the pedant in me notes this survey is PR presented by a VI,
Quoted elesewhere to be 2022 respondents across the country as a whole (not sure whether GB or UK)
That means fewer than185 respondents in Scotland (assuming the best case of GB rather than UK for the whole survey)
So the 8% mentioned in the Scotsman is only 15 people.

Given we quibble about data for house price indices being too small a sample to be valid I think its fair to say the paper on which this article is printed is only fit to be cut into squares and hung on a hook in the outdoor privy.

Reputable market research companies tend to require that PR quoting their figures is cleared by their statisticians before publication - and none would allow this stuff in the Scotsman.

Neither the Scotsman or the BBC quote the source of the research, which they would usually do, so I assume shelter did their own, or suppressed the name of the research company when said company refused to allow their name to be put to dodgy figures.

An online survey of that size would cost Shelter a couple of hundred quid. Cheap for a bit of PR. Everyone ends up talking about the topic and nobody bothers to check whether the data is valid. An urban myth gets born.

It really annoys me that charities get away with behaving like this. There may come a time when something important means they need a reputation for integrity, and they've lost it.

http://www.housepricecrash.co.uk/forum/index.php?showtopic=134451

So do people think the approach taken by the Halifax and nationwide of averaging house prices and applying blunt mix adjustment factors which aren't published or subject to scrutiny a more valid approach to data analysis

I didn't hear you complaining they were equally biased when the indices were falling and yet even more biased to better properties due to lower transaction volumes than now.....

Dan:_4

stueyhants wrote: »

So people (bulls mainly) are generally dismissive of this report mostly saying that the methodology is simplistic and drawing conclusions about who the million people are (renters or OO) is flawed.

So do people think the approach taken by the Halifax and nationwide of averaging house prices and applying blunt mix adjustment factors which aren't published or subject to scrutiny a more valid approach to data analysis

Didn't mean to thank this post.

It's probably because the 'bulls' know how credit cards work, to the average 'bear' a credit card is for debt junkies.

stueyhants

HAMISH_MCTAVISH wrote: »

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I didn't hear you complaining they were equally biased when the indices were falling and yet even more biased to better properties due to lower transaction volumes than now.....

So your basically saying you don't have a view on whether it is a good analysis. Thanks

stueyhants

Dan: wrote: »

Didn't mean to thank this post.

It's probably because the 'bulls' know how credit cards work, to the average 'bear' a credit card is for debt junkies.

I'm not trying to argue the data is correct or what it mean to future house prices.
I was hoping to highlight some inconsistencies in which certain data sets get discredited and others are beyond reproach.

tomterm8

stueyhants wrote: »

So do people think the approach taken by the Halifax and nationwide of averaging house prices and applying blunt mix adjustment factors which aren't published or subject to scrutiny a more valid approach to data analysis

In terms of metrics theory, you can drive a truck through both the Halifax and nationwide averages, but until you get land registry data it is the best data we have on the subject.

rictus123

Well hopefully seeing stuff like this will encourage me to crack on, get saving and save more of a deposit to lower payments and also for emergency fund so wont ever have to spend anything like this on a card.

stueyhants

tomterm8 wrote: »

In terms of metrics theory, you can drive a truck through both the Halifax and nationwide averages, but until you get land registry data it is the best data we have on the subject.

I must confess I don't know how the LR figures are produced, but presumably to come up with a headline figure they have to do some averaging based on a mix adjustment ?

oldMcDonald

Do the LR figs include cash purchases and auction sales?