Not sure if anyone's posted on this years annual biggest inappropriate use of statistical measurements so apologies if they have.
Yet again demographia have unleashed their statistical inappropriateness on the cities, now they've included the regions.
Given the high number of asset rich/ income deficient people in towns like port Macquarie , Coffs , sunshine coast etc of course if you apply median multiples to house prices you're going to get some very high numbers. Unfortunately it seems very few in the regions passed fifth grade math and know the difference between mean, median and mode, and so assume there's nothing wrong with the numbers.
Not helped by main stream media either. Hopefully they'll all have forgotten about it in the next few days, as I'm not sure how much more "but they said it's the most unaffordable houses " I can take.
At least there will always be a large rental pool in this area.
Sorry rant over (and apologies for lack of punctuation and paragraphing, I'm on the iPhone)
Yet again demographia have unleashed their statistical inappropriateness on the cities, now they've included the regions.
Given the high number of asset rich/ income deficient people in towns like port Macquarie , Coffs , sunshine coast etc of course if you apply median multiples to house prices you're going to get some very high numbers. Unfortunately it seems very few in the regions passed fifth grade math and know the difference between mean, median and mode, and so assume there's nothing wrong with the numbers.
Not helped by main stream media either. Hopefully they'll all have forgotten about it in the next few days, as I'm not sure how much more "but they said it's the most unaffordable houses " I can take.
At least there will always be a large rental pool in this area.
Sorry rant over (and apologies for lack of punctuation and paragraphing, I'm on the iPhone)
