Pat Veling is paranoid, or he has OD'd on the Kool-Aid

NEW -> Contingent Buyer Assistance Program
[quote author="IrvineRealtor" date=1213236561]World's Most Boring Lunch Meetup:



PV : Thanks for finally meeting me.

GR : Thanks for meeting my term.

PV : Where do we start?

GR : You're an idiot.

PV : No, I'm not.

GR : Yes you are.

PV : No, I'm not.

GR : Well, then you're a hack.

PV : You got me. Yes I am.

GR : Really?

PV : No. Not really. You're an idiot.

GR : No, I'm not.

PV : ......

GR : ......

PV : ......

GR : ......</blockquote>


Dude if you get banned I'm really, really sorry. I meant to hit the "thank you" button 2x, but it appears they fixed the "bug", so I hit the "Report" button accidentally. LOL I think I want the multiple thank-yous back!
 
Back from the dead, PV gets 'real':



<a href="http://lansner.freedomblogging.com/2008/09/24/ucla-says-short-sales-hijack-housings-future/">http://lansner.freedomblogging.com/2008/09/24/ucla-says-short-sales-hijack-housings-future/</a>



<blockquote>Interesting take ?



?A realistic forecast of the bottom of the housing market needs to explicitly acknowledge that short sales have temporarily hijacked the market mechanism: the near-term course of the housing market will be determined more by the procedural timelines of foreclosures and short sale approvals than any notions of a magic price that will clear existing inventory. After our housing mega-bender, we will be suffering inventory indigestion for some time to come.?



This supports the view of Graphrix and a few others who take issue with inventory data analysis, such as that from my firm or from Steve Thomas. But absent the actual numbers supplied by the banks, it?s simply the best some of us know how to do. So, let?s see some intelligent input from those who claim they can do it better, and provide some of us some insight as to what the data points need to be to get a handle on the absorption variables.



Have a great day!



</blockquote>
 
[quote author="no_vaseline" date=1222294640]Back from the dead, PV gets 'real':



<a href="http://lansner.freedomblogging.com/2008/09/24/ucla-says-short-sales-hijack-housings-future/">http://lansner.freedomblogging.com/2008/09/24/ucla-says-short-sales-hijack-housings-future/</a>



<blockquote>Interesting take ?



?A realistic forecast of the bottom of the housing market needs to explicitly acknowledge that short sales have temporarily hijacked the market mechanism: the near-term course of the housing market will be determined more by the procedural timelines of foreclosures and short sale approvals than any notions of a magic price that will clear existing inventory. After our housing mega-bender, we will be suffering inventory indigestion for some time to come.?



This supports the view of Graphrix and a few others who take issue with inventory data analysis, such as that from my firm or from Steve Thomas. But absent the actual numbers supplied by the banks, it?s simply the best some of us know how to do. So, let?s see some intelligent input from those who claim they can do it better, and provide some of us some insight as to what the data points need to be to get a handle on the absorption variables.



Have a great day!



</blockquote></blockquote>


I am shocked by his candor and his willingness to eat crow. Good for him.



His basic problem is that inventory isn't a very good predictor of home prices. Everything revolves around financing. You could have very low inventory and no price appreciation if potential buyers are unable to up their bids.
 
I need to respond to Pat about that. I was thinking of being a bit smug, but since he seems to have had a slice of humble pie, I think he deserves a like kind of response. I am surprised that he hasn't figured out a way to see the shadow inventory, the data is out there and should be available to him. I think it would serve him well and probably shock him a bit.
 
[quote author="graphrix" date=1222348158]I need to respond to Pat about that. I was thinking of being a bit smug, but since he seems to have had a slice of humble pie, I think he deserves a like kind of response. I am surprised that he hasn't figured out a way to see the shadow inventory, the data is out there and should be available to him. I think it would serve him well and probably shock him a bit.</blockquote>


His basic problem is that his methodology is completely flawed. Inventory analysis is not going to be a reliable predictor of price movement because it does not take into account financing availability. If potential buyers cannot up their bids, prices will stagnate or fall regardless of what inventory does.
 
Pat Veiling is the worst form of "professional". He is like one of those television preachers that needs to have people that are dumber than him around so that he can have some value. His market analysis is written for dopes in the real estate industry that are unable to make a decision on their own. Fortunately for Pat, there are a lot of sort of dumb people out there to sell to.



I suspect that the paychecks are getting a little bit thin for Pat these days. However, I am sure that he will find some new scam to pull on another goup of unsuspecting people. This web site is a good model for pats next venture:



http://www.rayreynoldsuniversity.com/
 
[quote author="NanoWest" date=1222389993]Pat Veiling is the worst form of "professional". He is like one of those television preachers that needs to have people that are dumber than him around so that he can have some value. His market analysis is written for dopes in the real estate industry that are unable to make a decision on their own. Fortunately for Pat, there are a lot of sort of dumb people out there to sell to.



I suspect that the paychecks are getting a little bit thin for Pat these days. However, I am sure that he will find some new scam to pull on another goup of unsuspecting people. This web site is a good model for pats next venture:



http://www.rayreynoldsuniversity.com/</blockquote>


This one is more appropriate



http://www.nouveauriche.com/
 
I know someone who was in that (Nouveau Riche) and a couple years ago it sounded like he was doing very well. I'm not comfortable asking him about it now..



[quote author="OCCOBRA" date=1222412211]It is a Scam-cult. $16,000 a pop. </blockquote>


That's what it smelled like to me when I tried to research it..
 
Trust me it is a total pyramid scam. Get your buddies in and you get paid part of the $16,000.00 commission. I am sure you friend is not doing this anymore.
 
Pat <a href="http://lansner.freedomblogging.com/2008/11/29/home-selling-methods-obsolete-insider-qa-told/7492/">"Donkey"</a> Veling is back.
 
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