[zaph]

staringclown, on 27 January 2012 - 07:50 AM, said:

I'm sure they'll publish a retraction when the revised December Qtr figures come out.

I'm expecting sky writing, full page ads in all the daily's, TT and ACA retractions and total shut down of Facebook to draw everyone's attention to the revisions. there will be an address to the nation from the doctor.

[Bernard L. Madoff]

zaph, on 27 January 2012 - 08:03 AM, said:

I'm expecting sky writing, full page ads in all the daily's, TT and ACA retractions and total shut down of Facebook to draw everyone's attention to the revisions. there will be an address to the nation from the doctor.

"I'm a cheap shill and a spruiking zero cred fu*ckknuckle" is a lot of sky writing.

I've had a few beers years ago with Matt Hall of Red Bull Air Race Fame (when he was Queen and Country and a mere cadet wannabe), he could do it.

[mattau]

It's intersting to see that Melbourne's prices are now rising.

THis is in comparison to back in 2011 when the Melbourne median house price reportedly dropped:
"The REIV’s September quarter market update shows that the median house price in metropolitan Melbourne has dropped to $551,000."

[staringclown]

mattau, on 27 January 2012 - 10:31 AM, said:

It's intersting to see that Melbourne's prices are now rising.

THis is in comparison to back in 2011 when the Melbourne median house price reportedly dropped:
"The REIV’s September quarter market update shows that the median house price in metropolitan Melbourne has dropped to $551,000."

Dude! They've not necessarily stopped dropping. That's the point. APM used revised (down) September figures against unrevised December figures to get a headline that house prices had risen by $129. That's right 129 stinken lousy bucks. I spend more than that on a bottle of scotch.

[booboo]

As some wise person just posted as a comment on MB:

Quote

Perhaps an interesting way of APM presenting data is this quote from Dr Andrew Wilson:

“”"
Sydney house prices fell in only one quarter (September 2011, down 1.8 per cent) over the 13 quarters since the height of the global financial crisis in September 2008.
“”"

From:

http://smh.domain.co...0127-1qk6s.html

Unless there’s been some more substantial revisions to figures not given in the Dec release, I don’t see how that is a truthful statement?

Sydney house price series:
Dec 2011: $636,822 (Dec release) (Flat)
Sep 2011: $636,822 (Dec release) (Fall)
Jun 2011: $648,455 (Dec release) (Fall)
Mar 2011: $649,945 (Sep release) (Rise)
Dec 2010: $644,924 (Dec release) (Fall)
Sep 2010: $648,320 (Sep release) (Rise)
Jun 2010: $646,200 (Jun release)

Three releases used – December 2011, September 2011, June 2011.

Even with revisions, it’s obviously an attempt at a misleading statement on the strength of Sydney’s housing market, given the -1.3% YoY value for Sydney houses.