Bad news.

badmomma · #1 03-26-2011, 12:26 AM

It seems that there is nothing but bad news for the housing market. I caught a headline today that said the housing market may be worse than we imagine.

Well I seriously doubt that as many of us already know how bad it really is. House flipping can be a rough business in a good year but with all of the mistakes the banks and the government has made it just doesn't make for a good market.

It seems to be more difficult to get a loan than it has ever been before. To add insult to injury of course now you have to worry more about thieves and squatters.

People are getting desperate and its not just the housing market that is suffering. Business is bad for everyone and I don't like it when they keep saying that things are improving when it is perfectly obvious that it isn't. Geeze!

MNFlipper · #2 03-28-2011, 07:58 PM

Do you think the old saying about there being opportunity in a down market is true for real estate and flipping?

I know there seems to be a ton of good buys in my area these days, especially with townhomes. I keep wondering if I should consider buying one of them and renting it. But I think all the bad news keeps me in fear and not doing anything.

JaredfromIndiana · #3 03-28-2011, 09:17 PM

Real estate is local. There are a few folks I know in the Fort Wayne area that are still flipping and doing well for themselves. Stop listening to all the bad news!!!

flippinout · #4 03-29-2011, 05:09 PM

I agree with Jared, some areas are doing really well as far as flipping etc is concerned and then there are others where things are not good at all.

I do think the market is recovering, albeit rather slowly but people still do need homes to live in and this is something to keep in mind.

In our area here in Ohio, things are rather slow because of the fact that the steel mills etc have laid off so much but still, a living could be made here by flipping too.

Fort Wayne has probably a lot more jobs available, as they have trucking companies, and more jobs in general than we do here. But no matter where you live, flipping can still be profitable, though in my area, I sure wouldnt suggest quitting your day job to do it.

badmomma · #5 03-30-2011, 04:34 AM

Thanks Jared and your right it is a local thing and what can't be found in one place you may find elsewhere.

I hate the news and it seems to me all they want to print is the bad stuff. Never anything positive and uplifting.

I don't really watch the news anymore. I get my weather from NOAA on the internet.