JE
Jenny
Founding member
Last night there was a discussion about the council tax issue, and Stephanie Flanders had come prepared with some statistics. I don't remember the exact numbers, but it was something like:
Have you spotted the mistake yet? They've included the original price as part of the increase. By that reckoning, if house prices stayed the same that would be a 100% rise. This erroneous calculation was repeated with several sets of figures, and neither Gavin Esler nor Stephanie Flanders corrected it. That even the Economics Editor herself fails to spot such a basic schoolboy error is a bit worrying, is it not?
Quote:
Average house price in 1989: £48000
Average house price in 2005: £154000
321% RISE
Average house price in 2005: £154000
321% RISE
Have you spotted the mistake yet? They've included the original price as part of the increase. By that reckoning, if house prices stayed the same that would be a 100% rise. This erroneous calculation was repeated with several sets of figures, and neither Gavin Esler nor Stephanie Flanders corrected it. That even the Economics Editor herself fails to spot such a basic schoolboy error is a bit worrying, is it not?