Properties for sale

Call me cynical but I just don’t get why we persist in giving so much weight to meaningless statistics in our media.  Today we have another round of lobotomised journalism based on current properties for sale etc.  The headlines scream that property values are rising, but read the detail and median price’s rose .2 of 1% on volumes so small they don’t even count.

It’s like having 2 identical brooms but one has 5000 bristles and the other one has 4998 so we hold a national press conference to show off how vastly superior the first broom is.

the Boom Broom?

So I guess I should be happy that this is a turn around from their usual fare as I discussed here, but it just concerns me that so many people will make investing decisions based on such misinformation.  Is there realy any reason why they couldn’t tell the truth and say something like…

“Housing market remains uncertain”.

Based on the very small number of properties for sale and the fact that certain market segments have been significantly affected through the current recession, figures out today are relatively meaningless. They show a tiny increase in median prices but the volumes are such that 1 or 2 high end sales, even at heavily distressed prices, would account for this apparent increase. We expect it to be 12 to 18 months before any realistic trends emerge and every area of our economy is so fragile predicting anything right now on such anecdotal figures would be like trying to predict which politician is going take his or her partner overseas at our expense next, there are just so many choices.

Now that I can believe!!

So thought for today, don’t make any investing decisions based on today’s news, just keep hunting for the right next deal for you amongst the properties for sale and stick to your plan.

Stay Inspired and Stay Safe ~ Dean Letfus

The ethical Investors Strategist

PS: Only 2 weeks till our event, if you haven’t booked yet please jump on over to HERE NOW!!  Looking forward to an exciting, empowering and profitable day with you!!