Seven rules to live by when weighing up property statistics
Making sense of the numbers that collectively form the basis of the biggest investments of our lives is fraught with obstacles and unseen influences, so here are seven rules to adhere to in deciphering the digits.
Daily and monthly housing stats: "just white noise". (Image source: Shutterstock.com)
Understanding statistics can be a tricky business, especially when they’re related to emotional topics like house prices or the economy.
Here are seven rules to help make sense of statistical claims:
- Emotional reaction: Notice how you feel about a claim before accepting or rejecting it.
- Viewpoint: Combine the big picture view with personal experiences to get a more balanced understanding. This is what I call the ‘bird’s eye versus worm’s eye’ …
