Sunday, October 2, 2011
House Flipping
Interesting article about how house flipping is a thing of the past. This relates to what we were talking about in class about how you could buy your house for a price and in a year the price would rise by 50 percent. This is no longer the case and now house flipping is a thing of the past since no one is buying the houses anymore.
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The article shares interesting information on the shift from "flipping" to renting. It says that a person who buys a home today, with plans to quickly sell it again, could own the house for up to 5 years before finally getting rid of it. Because of this trend, more and more people have to resort to renting out their properties so they still see returns instead of tapping into their own assets. This not only benefits students in cities such as Kalamazoo, but also those whose credit has suffered and cannot afford to purchase a home.
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