PUBLIC ATTACKS BY POWAYSELLER AGAINST RICH

[4plexowner]

I’ve checked out powayseller’s site three times – on each occasion I found bad grammar, mis-spellings and incorrect data being presented as fact

The most obvious data mistake was her saying that the US needs $35 billion per day from strangers when the real number is $3.5 billion

OK, it’s only a mistake with a decimal point but why would I want to read about economics from someone who can’t spell, use correct grammar or check their work for accuracy?

I also found ps’s description of herself amusing to the point of LOL’ing – this is a person who posts things like “I forgot about inflation” claiming to be an economist

Lord save anyone who follows ps’s advice blindly

[PerryChase]

Man, why all the vitriol?

I’m not defending powayseller’s personality or social skills, but isn’t what she says simply the opposite of what the REIC doles out everyday?

Much of what powayseller distributes is correct. Her level of accuracy is superior to that of the Real Estate boosters’ who can only say that “this time it’s different.”

I don’t mind the message so I’m willing to give the messenger some slack. Like I say before, she’s no different from the extremist/missionary/evangelist out to spread the “word.” She won’t let anything stand in the way. Some might say that she’s “driven.”

[brooke]

It’s the lying that’s the problem.

Perry, she is welcome to offer an alternate view but my problem is with her lying and abusive behavior. Rich always took the time to answer her constant emails about economic stuff and advice on starting a website. He was very patient (too patient) when she started spreading UNTRUE rumors about his private financial history and basically calling him a liar, and he even let her stay on the forum despite this behavior. He smacked her down on the forums a couple times, but considering the things she said to him, he has been incredibly patient with her.

After all that, for some reason we don’t understand at all, she started personally attacking Rich and spreading lies about him.

– She makes it seems like Rich rules this site like a tyrant, that he won’t accept criticism, and she calls him a “self-anointed guru.” The fact is that he has never banned a user, not even ps, except for comment spammer bots. And he never deleted a non-spam post, with one exception: when powayseller herself demanded it because she claimed it contained private info about her, and Rich gave her the benefit of the doubt. That’s the only post he ever deleted. And anyone who has talked with Rich knows that he is fine with people questioning his arguments and he actually likes it because it makes the arguments stronger.

– Rather than taking any responsibility for purposely starting untrue rumors about Rich’s history of real estate transactions and insulting his integrity, she completely mischaracterizes what happened in the that one thread and makes it sound like Rich is some sort of irrational and insecure hothead. Yes, she pissed him off. She pissed him off because she posted false info about him, and even though he asked her to stop she continued and then purposely started a false rumor with the intent to back him into a corner of giving out personal info he didn’t want to give. It was amoral and incredibly mean-spirited and Rich should have banned her on the spot, but he didn’t. Now she claims he “lost it” because she said he missed the boom, which is an outright lie. Go dig up the thread if you are interested and you will see.

– What she says are “mistakes” that she corrected in the voiceofsandiego letter are just different interpretations she had. The wrong interpretations, in my opinion, but I can see the difference between different interpretations and “mistakes.”

So Perry, if people want to disagree with Rich or even say he’s wrong or an idiot that’s fine. But she has personally attacked him despite his patience with her antics and worse she has published outright lies with the intent to make him look bad. Her behavior is disgusting and I think zk is right on with his diagnosis, especially the part about her taking advantage of others.

For new people, if you are wondering how I know all this stuff, it’s because Rich is my husband and I can tell you he is upset about her inexplicable personal vendetta against him and the lies she is spreading. On the positive side, thanks to everyone who has offered words of support here at at the voiceofsandiego. I really appreciate your coming to the defense of Rich and he does too. Rich wanted to make sure I mentioned his gratitude. The nice things people said are the one bright spot in this whole ugly mess.

~B

[powayseller]

My beef is with the content of the reports.

He implies that falling $/sq ft is due to price drops, but in fact, it is due to a shift in the mix of homes sold. Although prices are dropping, it is not reflected in $/sq ft. That measure suffers from the same problems as median. As the distribution of homes sold changes, and we sell fewer entry level homes, the median rises, the average rises, and the $/sq ft falls. This occurs even if prices are flat.

He wrote that NODs are must-sell inventory, but in fact most homes in NOD status are not even listed for sale on the MLS, and even REOs are still listed too high. Few people in foreclosure list their homes for sale; they just don’t have the equity to care, or to pay a realtor. Consequently, the rise in NODs and REOs is not yet affecting prices. REOs seem to be among the worst, as lenders in faraway places think the San Diego market is still on fire; after all, the hear the median is rising! (I emailed him about this as soon as I read the story.)

He wrote that high NODs could be due to duplicate entries for the same home from piggyback loans, but there is no proof. foreclosure.com shows only 1 entry per home. (I emailed him about this as soon as I read the story.)

Brooke, if you really want to help Rich, then encourage him to improve his analysis and stop jumping to conclusions. Push him to do better.

My reports:

Dollars/sq ft falling as fewer low end homes sell

NODs do not affect prices

[PD]

So here we have it, admission through lack of denial. She did do it.

Powayseller, toot your own horn all you like but quit attacking Rich, it makes you look like a mentally unstable freak. Additionally, it completely destroys any credibility you might have had.

[PD]

He wrote that high NODs could be due to duplicate entries for the same home from piggyback loans, but there is no proof.

COULD is the key word here. You seem to have missed it, PS. This is in stark contrast your observations and conclusions, which you consistently present as absolute fact.

If I am not mistaken, Rich and Piggingtons provided important information that convinced you to sell your house, thereby saving you an amount that is probably approaching $100,000. And you treat him like this? What is wrong you?! If you disagree with him or have conflicting information, fine. Present it in a civil manner here on Piggingtons.

But LAY OFF THE PUBLIC ATTACKS!!!!

[PD]

Posted by Powayseller last summer: http://piggington.com/take_a_minute_out_to_thank_rich

Rich, let me start this post by thanking you for your hard work, dedication, foresight, and courage to start this Econo-Almanac. When you started, the media and most people were still saying that housing can only go up. You went out on a limb, and you educated many people, probably thousands who come here. Thanks again, and if anyone else has a minute to add to this post, I think he deserves a hand! 

 

[Critter]

Rich doesn’t just deserve a hand, he deserves a standing ovation for all the good info that he presented which convinced me to decide NOT to jump back into the market after my last home sale two years ago.

Due to Rich, I have saved at least $100,000 and plenty of headaches – I don’t stay awake at night wondering what I got myself into. I’ve also had a heck of a good time reading all these posts, most of which were written by people with rare intelligence.

Thank you, Rich!!! You have made ME rich!!!!

[sddreaming]

PowaySeller – You are so backpedaling here.

You say your beef is with the content of Rich’s report. That’s fine. Present your case, just like you did now, (just leave out the nastygram to Brooke). Feel free to respond here or at the Voice. No one would have a major issue with that. You could even promote your site by including your links. No prob.

But that’s not what you did. You tactlessly and tastelessly attacked Rich; and I quote: “The poor analysis by Rich Toscano on the housing market has got to stop.”

The right thing for you to do at this point is to publicly apologize. Think about it.

[brooke]

“My beef is with the content of the reports.”

What does that have to do with you publicly launching personal attacks and spreading lies about my husband?

Another clumsy attempt at misdirection by ps.

I can’t believe you have the nerve to come here and post. You are now banned from the site. You are the first banning ever-congratulations.

~B

[HereWeGo]

Brooke-

Poway took a gamble in an attempt to draw Piggington readers to her private service. I’ve seen the same tactic employed, every bit as artfully, on other subscription sites (I’m a basketball junkie of my alma mater.)

Of course, the risk associated with such a move was that Rich would remove CHF from the Bubble Bloggers links, which he did.

[lostkitty]

I sent her an email last year when this all started suggesting she should publicly apologize to Rich. She sent me numerous emails back trying to convince me that I was wrong to suggest it.

I deleted my link to her site, not that she cares since I refused to join or pay… ridiculous

[sddreaming]

Uh, HereWeGo, you are giving her way too much credit. I doubt, very much, that was an intentional, logical, move on her part to get more to her site. From her history here, it was more of the “I’m right, and anyone who dares to disagree with me, is wrong.” philosophy.

[Anonymous]

As I’ve said before PS is nothing more than an attention whore. She no longer garners the attention she so craves on this site, and clearly nobody is looking at her own site, so she must resort to antics like this to keep getting attention. She has been pulling gimmicks on this blog forever. The solution is simply to IGNORE HER. That is the worst punishment you can possibly inflict.

[sdduuuude]

“You are the first banning ever-congratulations.”

I’m glad to see something good has come of this.

In the words of the great San Diegan, Jeff Spicoli :
Awesome – totally awesome !

I’m done with this thread and, thankfully, powayseller.

D

[Author]

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