Another biased media report: home loans on the rise?

July 13th, 2010

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In our report, How To Foolproof Yourself Against Salesmen & Media Bias, we wrote about how the media uses headlines to slip in their bias.

Well, here is a great example from this article in the Sydney Morning Herald (SMH)- Home loans on the rise:

The number of home loans issued to borrowers have marked their first rise in eight months are buyers looked beyond higher interest rates to wade back into the market. In a sign of caution, though, the size of a typical loan shrank.

In an another article from the SMH- Home loans up for first time in eight months:

A WEAK spot in the property market is showing tentative signs of recovery, after a surprise bounce in new lending to home buyers.

The headlines from the Daily Telegraph isn?t much better.

Despite the positive spin in these headlines, there?s a little detail that caught our eye. What is it?

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  • Tim

    My guess is that these are seasonally adjusted, and the actual figures are down?

    Even better is Commsec's Craig James' comment that the economy is looking better because people are using their credit card more instead of their debit card:

    'The chief economist at Commsec, Craig James, said this suggested a relaxation in conservative attitudes to debt, but shoppers remained cautious about how much money they spent.

    ''Consumers are indeed shopping around for bargains, but with the job market firmer, they appear to be willing to put their credit card to greater use alongside with their debit cards.'''

    What world does that guy live in?

  • Someone has unkindly described Craig James to be a “nitwit.”

    It's obvious that this guy is paid to spew out propaganda by the bank.

  • pb

    if this is the “first rise in 8 months” howcome they havent been giving us the bad news every month for the past 8 months that there has been a drop in the number of home loans?

    its so typical of the media, no matter what statistic they were using last week to 'prove' everything is going up in real estate, if that very same statistic turns negative they just ignore it and look for some other figure that has gone up to publish. i wonder if they will ever run out of statistics…

  • Pete

    I think we will look back on this in 10 years time and marvel at how this was all possible…