ESRI/PTSB Index increasingly discredited?

From today’s Indo.

independent.ie/business/irish/if-house-prices-only-dropped-5pc-in-2008-ill-drink-to-that-1481712.html

I’ve got to stay that my opinion of ESRI statisticans has gone waaaaaaay up

they’re all hedonists? who knew???

Hedonic.

That is a poor response from a statistician. It is not the treatment of the data that is the issue (i.e. how the collected price information is transformed into an homogenous time series), it is about the raw data itself - not reflecting genuine current transaction prices.

The article is no longer on line, when I click link I get 404. However is existed as google has indexed it.

Or as generally stated in the business. garbage in, garbage out.