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Houseflipping, the practice of buying inexpensive foreclosed houses, quickly making repairs and selling them within six months, is slowing down.

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Houseflipping Moves Upmarket

Houseflipping, the practice of buying inexpensive foreclosed houses, quickly making repairs and selling them within six months, is slowing down.

Houseflipping Moves Upmarket (Bloomberg BusinessWeek)

Houseflipping, the practice of buying inexpensive foreclosed houses, quickly making repairs and selling them within six months, is slowing down. ??The flipping frenzy is dying down on the lower end because they??re running out of good inventory to buy at a discount,? said Daren Blomquist, vice president at RealtyTrac. Instead, flippers are moving into higher-end homes, where the discounts are deeper and the markups are higher.

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archive

Houseflipping Moves Upmarket

Houseflipping Moves Upmarket (Bloomberg BusinessWeek)

Houseflipping, the practice of buying inexpensive foreclosed houses, quickly making repairs and selling them within six months, is slowing down. “The flipping frenzy is dying down on the lower end because they’re running out of good inventory to buy at a discount,” said Daren Blomquist, vice president at RealtyTrac. Instead, flippers are moving into higher-end homes, where the discounts are deeper and the markups are higher.

Newsletter Signup.

Sign up to the Human Events newsletter

TRENDING NOW:

The Divided State of Britain.

CULTURE

Big Tech Big Tech

‘Principled’ Rightists Have Forgotten What the Principles Are.

TECH

‘Squash Amash’ Rally Takes Aim at Michigan’s Anti-Trump GOP Rep

U.S. POLITICS

Gulf of Oman 'attack': Oil tankers on fire amid rising tensions between Iran and rivals Gulf of Oman 'attack': Oil tankers on fire amid rising tensions between Iran and rivals

Don’t Rush to War with Iran Over Some Tankers.

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