follow Patrick following
follow Patrick 2018 Apr 19, 7:02pm
1,250 views 15 comments
... a decade after the U.S. housing bubble burst, house flipping is on the rise again. Defined as reselling a house within a year of purchase, flipping is at an 11-year high in the United States and it's the subject of dozens of TV shows and weekend workshops promising to teach real estate novices how to make a fortune.New research shows that flippers contributed to the housing crash of the mid-2000s more than economists initially realized. Because some of the same practices from the boom are making a comeback, some market watchers are concerned that the real estate market might once again be nearing a bubble.
Every time a new loan is made the banks create more money out of thin air.I keep hearing this but do not understand the mechanism. After all, when the borrower takes out a $200k mortgage, the bank had to supply the $200k real cash to the seller.
Renters will continue to get screwed until we get socialism.
Socialism would be far worse for renters than anything they're experiencing now.