Americans still think they can make money flipping houses
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Re: Americans still think they can make money flipping houses
#2It's not just the up keep. House prices are dropping fast. What seemed like a hot market just 6 months ago, it is not a Luke-warm one.
Re: Americans still think they can make money flipping houses
#3Is real estate in the US one of those industries where corner cutters think, “oh that’s an easy career” ?
My Instagram timeline has become filled, for some reason, with local (not to me) agents insisting that there is no bubble and now is the time to buy. And they’re all really unprofessional looking and sounding and seem to be worried about one thing: their business.
Re: Americans still think they can make money flipping houses
#4If real estate is to be a good investment, it must become less affordable over time. The idea that real estate in general is a good investment is dangerous to our economy.
The solution to housing is reducing subsidies and removing supply side restrictions. However these are not politically popular in a world where people want housing prices to go up.
Re: Americans still think they can make money flipping houses
#5You can make money flipping houses. However it becomes a job and you need to treat it like one. You have to invest in the right house, a house that only needs paint and it will sell for a thousand profit vs a house that needs to have the main beams replaced to get $50000 profit. The above numbers are real required profit because of the risk you are taking, and also the time that you own the house paying intrest waiting for the next buyers to take over. There is a different type of flipper who gets into each of the above, getting the wrong house will break you. Either way you need enough houses in progress to always be working, and there are so many houses in any city to work with.
Yes you can make money, but that doesn't mean you will. It is a complex job and not for everyone.
Re: Americans still think they can make money flipping houses
#6Is real estate in the US one of those industries where corner cutters think, “oh that’s an easy career” ? My Instagram timeline has become filled, for some reason, with local (not to me) agents insisting that there is no bubble and now is the time to buy. And they’re all really unprofessional looking and sounding and seem to be worried about one thing: their business.
A lot of people in America is looking for a quick buck. Real estate flipping was very successful in the last decade with cheap money. There are entire TV channels ( yes, channels, not shows) showing flipping and renovation in various ways.
Many Americans are so tired of the rat race that they are lured by the glory of being able to get off the treadmill and riding off to the sunset. Bubble economies help fuel that dream
Re: Americans still think they can make money flipping houses
#7No post body was provided.
Re: Americans still think they can make money flipping houses
#8Housing is unique in that it is one of the few, maybe the only, assets where leverage in the form of a loan is relatively easily available to even people without a lot of assets. Where as other forms of leverage like margin loans require the borrower to already have assets for collateral. To buy a house you basically just need a reasonable job and a few thousand for the down payment.
Re: Americans still think they can make money flipping houses
#9Is real estate in the US one of those industries where corner cutters think, “oh that’s an easy career” ? My Instagram timeline has become filled, for some reason, with local (not to me) agents insisting that there is no bubble and now is the time to buy. And they’re all really unprofessional looking and sounding and seem to be worried about one thing: their business.
A lot of people in America is looking for a quick buck. Real estate flipping was very successful in the last decade with cheap money. There are entire TV channels ( yes, channels, not shows) showing flipping and renovation in various ways. Many Americans are so tired of the rat race that they are lured by the glory of being able to get off the treadmill and riding off to the sunset. Bubble economies help fuel that dr…
No post body was provided.
Re: Americans still think they can make money flipping houses
#10If real estate is to be a good investment, it must become less affordable over time. The idea that real estate in general is a good investment is dangerous to our economy. The solution to housing is reducing subsidies and removing supply side restrictions. However these are not politically popular in a world where people want housing prices to go up.
Yes if everybody should live in their own real estate. There are superbly working economies where this is not true for many decades for various reasons (ie Switzerland) and they do just fine and people are happy, just focus on more important matters in life.
There are many arguments against urban sprawl which is direct consequence of such approach.