Friday, March 21, 2008

Who would’ve thunk it? Flipping still going on.

Investors ignore risks over flipping

It may be difficult to believe but speculators are shrugging off the bleak outlook for the housing market by continuing to invest in new-build developments in the hope of turning a quick profit. Many of them are lured by stories of the substantial gains made at the height of the boom. But today, despite falling house prices and warnings about the growing risks of buying off-plan, investors are still buying flats and houses with the aim of “flipping” them on to another investor before the building is complete. According to Beers, the surge in flipping is being fuelled by a lack of property for sale.

Posted by little professor @ 07:31 PM (689 views)
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2 thoughts on “Who would’ve thunk it? Flipping still going on.

  • Greytornado says:

    There’s going to be a lot of people who had wished they hadn’t got into this………………………………….

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  • When prices start dropping, there will always be a ‘fill your boots” contingent. Once they start making losses, they will start looking at other ways to lose their money.

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