– front page article ‘Buy it, Fix it, Flip it could be smart strategy’, REW.ca, 14 Dec 2012 [hat-tip Jack, and Happy Cynic]
Those flippers look.. youngish. Summer jobs? -ed.
“The BCREA notes a turnaround in housing sales next year could trigger speculators back into action. Those purchasing in a buyers’ market can reap huge rewards.”
“When the market is down, like now, is the time to be buying”, real estate consultant Ozzie Jurock said.
Cameron Muir, chief economist with the BCREA said he is confused by the “bubble hyperbole” in much of the media. “There are minimal risks ahead,” he said. … “I just don’t see any reason to fear a long term downturn in BC’s residential market”.
Flipping is the most obvious form of speculation, and not really the one that interests us the most (that remains the average buyer who overextends to buy on the premise of rising prices without even knowing they are speculating).
We are not yet in a market that is good for buyers, not by a long shot.
This could well be the very worst time in the history of the Vancouver RE market to attempt a flip.