Flipping is the practice of buying properties for resale, an investment strategy that has become wildly popular across the country. Disappointed with the stock market and dazzled by double-digit property-appreciation rates, amateur investors – apparently of every income stripe – are investing in real estate in droves.
They are snapping up everything from condo conversions in Chicago suburbs to new three-bedroom ranch homes in the Arizona desert.
Ordinary people, armed with bargain mortgages, pooled family savings and cashed-out home equity, are buying for investment at levels that are starting to worry economic analysts.
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