Powayseller in Bloomberg

[powayseller]

I did not include MEW in my original list above. But I forgot to add: I was the only person to notify that the San Diego MLS is not counting all inventory, that March sales are about to be 2000 (vs. 3K – 4K usually). I was one of the first to explain why the median is wrong.

I first learned about the housing bubble from Rich. He only writes original work. I don’t agree with all of it, but so what? I have piggington in my links, and I recommended Rich Toscano as a financial planner in a story from earlier this week about investing. I also put up links to his Bubble Primer in my Housing Basics section. I think my readers check out the links every day (Roubini, CR, Mish, Big Picture, piggington, Jim Klinge, ocrenter), so no need for me to make posts every day just copying what those guys wrote! Likewise, they don’t copy me either. Surprised some reader is offended by someone not copying someone else. Kind of a strange request, that I should go around copying other bloggers?

[sdcellar]

I’m sorry, is “oldtimers have refinanced their equity out” something different than MEW? Or did you think that everybody else means that MEW only applies to newtimers?

and, Huh? Are you talking to me? Are you thinking that I’m encouraging you to copy other bloggers? Nope. I’m just calling you out on your claim that all the ideas you listed are your very own original thoughts.

And yes, I know you learned of the bubble from Rich. The reason I posted the link was because I thought maybe you forgot…

[lindismith]

guys, cut her some slack.

I’ve been on this site a long time, and learned a lot from her. How is any lay person supposed to know what MEW means? I ask because PS has a way of putting things into plain English that make it easier for us folks that aren’t as smart as all of you.

I’ve watched her grow as we all grew from this site, but she more than any of us, and it’s cool that she’s so impassioned by this subject matter that she’s actually trying to make a living at it. We should all be so lucky that we are able to create jobs we love, and become evangelicals in the process!

I have to admit sometimes she goes over the line (the Trade Center Towers thread is my all time cringe-maker,) but overall, I think she’s doing well for a beginner.

[Anonymous]

I agree that much of PowaySeller’s information is regurgitated but what is wrong with that? I think the most important point is that the information is accurate and relevant. If anything she is re-packaging the information for the rest and that has utility I believe (kind of like an MBS).

Regardless, it is good to have someone rallying to expose this RE chirade and nobody is more enthusiastic about it than PS.

[CAwireman]

Yeah, way to to Poway Seller. I miss your interesting posts. But good luck with your new site.

Be sure to come back and post from time to time!

[sdrealtor]

PS,

You also forgot that you invented the Internet!

;)SDR

[sdcellar]

lindismith– I don’t expect everyone to know what MEW is by any stretch, but I’m sure PS does. I also don’t think she considers herself a beginner, but if so, I apologize (sincerely!)

I will cut her some slack however as I have often been and continue to be entertained (and even sometimes enlightened) by her posts.

[Nancy_s soothsayer]

IMHO, because Powayseller is an excellent writer – very smart, passionate, analytical, and prolific – there is envy among those who don’t have the same qualifications or energy. It’s okay, we’re only human to feel jealousy and such.

[sdcellar]

No envy here (assuming this could possibly be directed my way).

[(former)FormerSanDiegan]

“I was one of the first to explain why the median is wrong.” – powayseller.

No, not really. There once were two guys named Karl Case and Robert Shiller who studied this problem which was well-known at the time they created their index.

Here is their story…

“The CSIs were originally developed so that economists, financial institutions, rating agencies and others could study with precision the causes and consequences of home price changes on the U.S. economy. Until their development, the most widely used information on home price changes were indices based on the change of an area’s median home prices. Economists were frustrated with this approach, because indices based on median home prices in a particular geographic area can provide misleading indications of price changes as a result of shifts in the sampling of homes that comprise median measures from one month to another. Case and Shiller, building upon research pioneered by economists Martin J. Bailey, Richard F. Muth and Hugh O. Nourse, solved this problem by creating a repeat sales analysis in which only homes that sold at least twice over a period were covered and included in the index, thus creating an “apples to apples” analysis.”

So it turns out that this problem was even before the 1980’s solution developed by Case and Shiller.

In other news the Associated Press has reported that Al Gore did not invent the internet.

Anyway, someone has to have the passion and desire for limelight to point the press towards these issues. Even though I have problems with the quantitative elements of her opinions I commend her for bringing attention to these issues.

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