Flipping is flopping in CaliDean Foust
Interesting article on Inman News (read it quick; articles are free for a day or so but then available only to paying subscribers) about how flipping has turned into a dangerous game in California. The real story is in the accompanying table, where it shows the median gain -- or loss -- suffered by flippers in various counties. Look at Marin County, where median loss was $86,000. Wow! I'm sure that's off a small sample, but that's still real losses. For the life of me, I can't fathom why anyone is still trying to flip at this late hour. I also suspect there are going to be a lot of flippers who end up renting out their homes.