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'House prices – lies, damn lies and seasonal adjustments' blog discussion

Former_MSE_Lee
Posts: 343 Forumite
This is the discussion to link on the back of Martin's blog. Please read the blog first, as this discussion follows it.
Please click 'post reply' to discuss below.
Read Martin's "House prices - lies, damn lies and seasonal adjustments" Blog.
Please click 'post reply' to discuss below.
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Comments
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I have followed Ray Boulger for a number of years and have always found him to be extremely knowledgeable; I would like to say that I am surprised by his findings on how the mortgage companies measure the market....but I'm really not....0
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I have no idea why prices need to be seasonally adjusted. A house price is what it is, no matter whether it's January or July. So what's the point of it?.................
....I'm smiling because I have no idea what's going on ...:)
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ain't it always the way!:j0
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Ive always been dubious of House price indexes published by the major mortgage lenders... After all it is in their best interests to sell mortgages? so are They are always going to try and paint a rosier picture of the market to suit their needs??
The best and most reliable one to work on would be one generated by the Land Registry, Independant and impartial based on all the available data.0 -
I don't see the point of reporting the data in the first place.
GGThere are 10 types of people in this world. Those who understand binary and those that don't.0 -
As Mervyn King once said "House prices are a matter of opinion, whereas debt is real"
I agree with this totally. The price of a house is subject to many many factors, and ultimately a price index is really a finger in the air assesment of the state of the market
With transactions at a historic low, the problem you have is that spurious 'outliers' (in statistical terms) skew the honed calculations based on high volume consistent sales figures in a stable housing market
Debt on the other hand is a completely transparent figure of how much money you owe
In any case, a house is worth what someone is prepared to pay6.75kwp (15 * 450W) SSE facing
5KW Solaredge Homehub
9.7KWh Solaredge Battery
Sunny(ish) Berkshire0 -
As Mervyn King once said "House prices are a matter of opinion, whereas debt is real"
I agree with this totally. The price of a house is subject to many many factors, and ultimately a price index is really a finger in the air assesment of the state of the market
With transactions at a historic low, the problem you have is that spurious 'outliers' (in statistical terms) skew the honed calculations based on high volume consistent sales figures in a stable housing market
Debt on the other hand is a completely transparent figure of how much money you owe
In any case, a house is worth what someone is prepared to pay
The bit I've made bold is the bit I query.
I'm wondering if you mean a finger in the air to test the direction of the wind or something a bit ruder.
Either meaning seems to make sense in the current market0 -
Wind direction of course! Anything else would be plain rude.:rotfl:6.75kwp (15 * 450W) SSE facing
5KW Solaredge Homehub
9.7KWh Solaredge Battery
Sunny(ish) Berkshire0 -
I didn't understand a word of all that!
:eek:
Can I please have it in very very very plain english, perhaps 2 or 3 sentences!?0 -
I have no idea why prices need to be seasonally adjusted. A house price is what it is, no matter whether it's January or July. So what's the point of it?
It all about banks, building societies, mortgage lenders and estate agents talking up the market.
In the last few years it served to embroider the market and the banking trough fed the banking pigs, now it being used to do the same with dreadful figures and sellers and agents virtually putting any price they fancy on their houses as they arent selling.
The saying of "when money speaks the truth stays silent" springs to mind.0
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