[cobran20]

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•  TerryRyder - Dec2011.pdf (67.76K)
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[booboo]

What a load of rubbish that report is. He twists data to make his (wrong) predictions look right, and falls back to the old spruiker adage of "prices may be falling overall, but that's worthless to look at, because somewhere, they are going up". I stopped reading halfway in, and don't know how I made it even that far.

[Smart Money]

Out of curiosity I looked up the definition of a spruiker.

If the person or business producing a property report are real estate agents, it is their job to 'spruik up' the market. Then you can discount the report as being biased. However it is different if the report is authored by a so called independent source.

In British English, a tout (spruiker) is any person who solicits business or employment in a persistent and annoying manner (generally equivalent to a solicitor or barker in American English, or a spruiker in Australian English) . According to the American Bar Association, touting occurs when a person advertises, promotes, or otherwise describes a security for sale without disclosing that the person is being paid to do so. Does this ring a bell? Here we have the self proclaimed independent source or specialist who is constantly talking up the property market. Regardless of whether the market is flat, falling or rising?

Property statistical data may be used as a tool to present information in a certain way. It is interesting to note that real estate data management in Australia is not governed by legislation and there are no licensing requirements. So the data and reports provided by any source can be structured to satisfy the point of view required.

Of course there are no surprises when we learn that Terry Ryder is a regular contributor to The Australian Newspaper online see http://www.theaustra...siness/property
There is a large readership and see "The Australian" unique browsers = 2,411,959 http://www.newsspace...stralian.com.au " theaustralian.com.au leading and shaping the national agenda "

Terry Ryder is an influential and well read property writer. If the readers are mushrooms, perhaps they just need another point of view to consider?

Cheers

This post has been edited by Smart Money: 27 December 2011 - 12:42 AM

[zaph]

booboo, on 14 December 2011 - 01:55 AM, said:

What a load of rubbish that report is. He twists data to make his (wrong) predictions look right, and falls back to the old spruiker adage of "prices may be falling overall, but that's worthless to look at, because somewhere, they are going up". I stopped reading halfway in, and don't know how I made it even that far.

i feel sorry for you that you read half the report. i won't even click on a ryder link, different story same ending.

[staringclown]

That's funny RPData were all over the ABC today (Slow news day most likely) with the word being no capital gains in 2012. On the interview with Kusher he said further declines were a possibility in certain areas even with the cuts. Not one mention of a boom or people piling

Quote

The average national house price fell by 4 per cent in the past 12 months, making it one of the worst years for the residential property market, a leading report shows.

The steepest falls were in Brisbane and Melbourne, the RP Data report found, and while prices fell in Perth, the mining boom was expected to bolster prices there next year.

But RP Data senior research analyst Cameron Kusher does not expect the two consecutive interest rate cuts in November and December to significantly raise house or unit prices in 2012.

No wonder Tezza thinks RPData are a nuisance!

Quote

One of the problems with the way research companies and media report real estate is the tendency to generalize.

The market for Sydney, a city of 4.5 million people and over 700 suburbs, is distilled down to this: Sydney home values fell 1.1% in the 12 months to October (RP Data report).

What does that tell us that’s useful? Absolutely nothing. Worse than nothing, in fact.

It tells us the negative good of falling property prices will result in buyers paying more if they wait for prices to drop further.

It also tells us 1984 was 17 years ago Terry.

Quote

Nor are we better-informed by reading that RP Data’s home value index records a 3.4% decrease for regional Australia.

We’d be better off being told nothing rather than being fed information that’s not only meaningless but downright misleading.

Of course, the objective for organisations such as RP Data is not to inform but to generate publicity to help the business make money.

Terry would prefer no one was told anything except from Terry himself.

Give it up for Terry...

Quote

AT some point this year buyers will start piling into real estate.

First-home buyers, trade-up buyers and investors will collectively decide it's time to buy and start a fun run towards the market.

WAR IS PEACE, FREEDOM IS SLAVERY, IGNORANCE IS STRENGTH and DEBT IS FUN!