Investors Not As Encouraged With Home Flipping As Television

August 13, 2014 2:51 PM

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With the superfluous demand for television shows exposing the business of house flipping, it comes as a surprise that in the "real world" the demand is not there. In the past year there has been an overwhelming decline in the number of home flips across the country, with only 3.7 percent of home sales nationwide being flips, compared to the 6.5 percent in 2013.

New York City suffered even greater than the rest of the country, according to RealtyTrac, with an 8.73 percent decrease from 1Q 2013 to 1Q 2014 of home sales throughout the city being flips. The Real Deal attributes the heavy decline to the rise in Manhattan apartment prices, which has deterred inv...

Also read: Woman Calls Cops On Man Who Won't Stop Whistling 'Closing Time'

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