Flip this MF......

Discussion in 'The Back Room' started by Motorcity Gator, Aug 23, 2010.

  1. Motorcity Gator

    Motorcity Gator Well-Known Member

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    So......the craze of flipping houses has certainly taken a hit I would think given the dismal performance in the housing sector over the past 4 years.

    http://www.msnbc.msn.com/id/38811725/ns/business-the_new_york_times

    The most ominous statement to me is that a lot of industries will be negatively impacted as well.

    So much for Home Depot or Royal Carribean stock eh?

    After not making a profit on an 18 year home ownership run in one of the most marketable communities in SE Michigan I can certainly relate.

    Right now I am just renting a condo and frankly I don't have an urge to sell out my 401 K in order to buy something else. It's tempting given the low prices and the low mortgage rates though.

    The problem is I did not get enough out of my home sale to buy into another home comfortably. The cash on hand after the job loss went heavily into owning a home and paying for a condo simultaneously while also bearing the expensive costs of the relocation of my family.

    Very frustrating.....