Reply to Is there another "housing bubble"?

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[quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous]Houses sell at their value. What the hell people. You don't have to have an MBA from Wharton to understand this. If a house is all gussied up by a flipper, it still sells for what is is worth. Stripping equity?
No. 
You not getting a shot at creating equity in a desirable neighborhood does not mean those home were stripped of equity.  [/quote]

2004 called ... it wants its guileless faith in the market back. [/quote]

also it's interesting that you seem to agree that the flippers are taking value out of the neighborhood. that is the definition of "equity stripping" to me. equity should stay with the house, not be sucked up by a financial transaction. [/quote]

I don't know about people saying it strips equity (what does that even mean) but I will say don't buy from flippers.  My old house was flipped and had so many problems we had to have fixed including many of the new things they installed themselves to save money but did them incorrectly.  We couldn't even claim they didn't disclose anything because they never lived in the house and only owned it a few months.  The key to know about buying a flip is they usually do things as cheap as possible to make as much money as possible even if that means they do things wrong and you can't come back and complain because they can deny they know anything.  If you buy a flipped house you're screwed.[/quote]

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