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A recent, worrisome working paper released by the National Bureau of Economic Research reported on the tinder of the last conflagration...It was buyers from the top and middle top who account for the skyrocketing rate of default — and it wasn’t that they were buying bigger family homes that they couldn’t afford. It was that they were buying additional houses to flip for a profit — NY Magazine
Caitlin Flanagan looks at the gangbusters growth of "flipping" shows on HGTV and wonders if they are perhaps a signal of the next boom/bust cycle in US housing market. View full entry
