Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
What the hell kind of bottom of the barrel reporting is this? That reads like an opinion piece not an article. Complete journalistic FAIL. She's literally advocating against something, wonder what special interest she has?
Not all flippers buy dumpy houses and fix them up. The ones that do, I agree are providing a great public service. But many of them simply buy an already nice house, maybe make a few cosmetic changes, and then flip it. That latter group, probably isn't doing much of a public good ... though there's not much you can do about it.
And what does public good have to do with private real estate? These are private houses, people can buy and sell them as they see fit upon agreement of price. It's none of the government's business
u don't like it because you don't own one of the houses that appreciated 50% in 3 years. Otherwise you would think you are one of the best investors out there.
Houses will flip wherever you can get a great deal on the home in any neighborhood.
This is just my humble opinion as an observer.
First time home buyers should sit and wait it out.
The city loves the fact that homes are flipped and resold over and over for higher and higher inflated prices.
This creates the large tax stream revenue that the city needs to function. The city loves it. Those that can afford
keep buying and flipping but that too will soon taper off.The inflated home prices are now out of reach for most.
First time wanna be home owners. Don't t caught up in the" I need a home now before the prices go any higher " frenzy.
Sit tight and wait it out. Bonds are beginning to show weakness interest rates will rise and I have noticed more
homes are sitting a little longer than usual and prices are starting to dip. Also noticed Banks starting to release
more REO's ( bank owned property) into the market. Seems they no longer want to risk hanging onto the homes
for profit. They can see the writing on the wall.On top of that the boomers are retiring more and more and their migration
patterns have not changed. They are still selling and leaving N.Y. There will soon be more homes on the market
available for sale.There will be less demand ,less competition, and lower home sales prices as a result.
I'm guessing another 2 years left to sell homes for maximum flip profit after that its a 10 year (stagnation) adjustment.
That will be a good time to pick and choose the home you wish to really own for the fairest price available.
Hope this helps.
It isn't flippers that make markets appreciate . They are just middleman and the houses can only go to where market dictate no matter how many people get in the middle. IT IS NO DIFFERENT THAN SAY AN INSIDE TRADER . that stock is still going to go to wherever markets ultimately take it whether an inside trader profits on the way up or not .
But you can't deny the fact that when the middle man is removed from any arena of purchase you
have the best chance of paying the fairest price.
Please register to post and access all features of our very popular forum. It is free and quick. Over $68,000 in prizes has already been given out to active posters on our forum. Additional giveaways are planned.
Detailed information about all U.S. cities, counties, and zip codes on our site: City-data.com.
Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
