Is Flipping Real Estate A Thing Of The Past?

“The days of flipping real estate, commercial or otherwise are pretty much over,” says Tom Casey, a certified financial planner at Casey Thomas & Associates, who advises his clients on real estate. “There are very few hot markets for flipping with so many people unemployed and property values down. It’s really a time for renting property, not trying to sell it for a profit.” Real estate investors have been forced to re-think how and where they spend their money- or if they should spend it at all.  What’s forcing the shift to buy and rent is a depressed U.S. housing market that can not recover from the once sky-high values.  “Housing is entering a double dip in prices,” says Paul Dales, chief economist at the research group, Capital Economics. “They are headed down even more over the next 18 months by as much as 5%. Anyone looking for a short term gain by selling a property is heading for trouble.”

Short URL: http://newsplethora.org/?p=2548

Posted by newsplet on Aug 14 2010. Filed under Featured News, Finance. You can follow any responses to this entry through the RSS 2.0. You can leave a response or trackback to this entry

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