2016 and 2017 so far has been reminiscent of 2005 – 2007 before the crash. Back then, similar to today, real estate infomercials and get rich quick schemes ran on the late night airwaves. From flipping houses for “big” money to buying property with no money down and using OPM (Other People’s Money).
The popularity of TV shows like Fix or Flop has given some people empty hope in making “millions” flipping houses.
2016 saw the number of houses flipped at its highest since the great recession of 2008.
When speculation becomes a part of our day to day lives, it is inevitable that the market will correct itself. I am not sure when the correction will happen but it will. Perhaps it will happen sooner than we all think.
