Alarm


Usually it's bozos like me who are questioning real estate statistics. I've never been good with a belt sander, so maybe it's just jealously I could never smooth out a rough edge. However, it's to be expected us goobers with blogs are contrarians, trying to crash the property market with every unminced word. We hate the fact we never had the backbone, testicles or requisite chest hair to enter the property market at an earlier date. 

But for those who had that tri-winning combination of balls, spine and rug, you don't expect them to be pooh-poohing one of the major players in the property statistics game, from the unnamed angry person over at Australian Real Estate and Property...
Yet again Australian media outlets have published stories based on press releases from RP Data. You might say ‘so what’ ?  The problem is that RP Data statistics are inaccurate and unreliable.  Yet it is presented as factual information.
RP Data state the ’market is booming’, ‘the market is flat’ or ‘the market is in decline’ and the media respond by publishing RP Data statistics as if it is an accepted fact,  when clearly it is not.
RP Data is a profit driven private real estate sales data management company that answers to its Board of Directors. Every time an RP Data research analyst or representative provides a comment in a media statement, it is accepted as gospel. 
Firstly RP Data statistics are inaccurate and unreliable and secondly the research analysts and representatives do not state their qualifications on the RP Data About Us  webpage.   Are RP Data representatives qualified property economists or specialist marketers?
RP Data is a property information provider, a private commercial organisation and an information spruiker.  Their business is selling information.
RP Data and other Australian property sales data providers are not subject to professional standards legislation or subject to a financial services license . RP Data does not have to guarantee the accuracy or reliability of its information.
Don’t believe the gloom published by RP Data it could be a load of rubbish! 
That's some pretty strong language right there, almost like Bizarro me had written it. I'm sure RP Data and Joyus expects it from me and can easily dismiss it, but in a falling market it's going to be interesting how rampant the critics will be of data when it's traveling in the other direction. Of course I'll be hypocritical to the end and stay silent - RP Data will be my new friend!

Other popcorn moments lately, the appearance of REIV Information Minister, Robert Larocca, online. Robbie's been responding on blogs and commenting in the feedback section of online news. Maybe this is a new strategy or Enzo has banned Robbie from playing online poker in the office and he's got a bit more time to kill, but running around the internet makes you look a little jumpy, like there's a few fires that need extinguishing.

So I wonder what might have Robert so jumpy...

  source: SQM research.com.au

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