House Flipping Makes A Comeback As 2016 Volume Soars To Highest Since 2007
Ten years after one of the largest asset corrections in history nearly brought down the entire global financial system, house flippers are making a comeback in a big way. Just ask Eduardo Axtle, a 35-year-old former telecom entrepreneur (which we assume means Verizon store clerk) in Oakland, California, who say that "the floodgates have opened" and allowed him to take out 50 home loans over the past couple of years. But we're sure Yellen & Co. were right, 0% interest rates for nearly a decade were a fantastic idea.