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Take Two

Is 'house flipping' a boon or a warning sign?

By Take Two Staff
Published Jul 30, 2013
A mover from NorthStar Moving Corporation carries a cardboard box into a newly sold home in Central Los Angeles.
A mover from NorthStar Moving Corporation carries a cardboard box into a newly sold home in Central Los Angeles.
(
Christopher Okula/KPCC
)

Take Two translates the day’s headlines for Southern California, making sense of the news and cultural events that affect our lives. Produced by Southern California Public Radio and broadcast from October 2012 – June 2021. Hosted by A Martinez.

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Listen 8:22
Is 'house flipping' a boon or a warning sign?

As the economy boomed in the early 2000s, so did the housing market and the buy-low, sell-high trend of house flipping. But after the recession in 2008, the housing market flopped, and some analysts said that house flipping was a sign that the residential market crash was inevitable.

The market might appear to have returned. The number of homes turned around in Southern California this past May almost reached the record high number from 2005.

Is this is a sign of economic recovery, or just a precursor to the market being ruined once again?

Raphael Bostic is a professor of public policy at USC and a former assistant secretary at the US Department of Housing and Urban Development, and joins Take Two to explain.