Flipping Homes Like It's 2006

Once again, the practice that led to the mass buying of homes before the great collapse is happening like before.
People who buy homes to renovate them and sell them quickly are known as home flippers. A flip is most widely known as a home that is sold twice within a calendar year. They accounted for nearly 6% of the US home sales in 2016; but before the crash in 2006 they made up 7.3% of us homes sold.
The practice of flipping homes has been making a comeback in the cities that were hit hardest by the foreclosures.
Flipping homes has become popular again since the prices of homes have risen. On the other hand we don't exactly know if it is a good thing considering what happened before.
 In the past some local housing market investors were able to bid up the price in almost a frenzy. When this happened flippers overran the market competing with buyers who also needed a home to live in, limiting the availability of homes.
Flippers also provide a positive service to the industry by investing in homes that desperately need improvement. They are turning homes quickly and making the necessary repairs without riding the price appreciation.

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