The Media's Negative Spin on Flipping Houses and Investors
Here's a report from CNN Money on flipping houses that continues the trend of media and government negativity on the housing situation:
House Flipping
Pay special attention to the reporter's remarks about flipping playing a role in the bubble (makes it sound in passing like flipping was the cause almost exclusively), and also listen to the remarks from Lawrence Yun from NAR. He claims that house flippers are driving first-time buyers out of the market due to affordability issues.
I'd think that NAR would be on the side of investors who improve neighborhoods and the quality of homes? Perhaps I'm reading into his comments too much?
What are your thoughts?
Is this more of what I and others talked of at the BP Summit -- of an overwhelmingly negative impression of investors by the media and others in the industry?
Maybe this report from CNBC the other day changes your opinion?
http://www.cnbc.com/id/46892030
Thoughts?