The Home-Flipping Bubble Implodes

Profit grows on trimmed trees, freshly painted walls, and rehabbed bathrooms, and flipping volume soars, and nothing can go wrong. Then something goes wrong.

Here’s the Chart that Shows Why the Housing Market Is Sick

Homeownership hit the skids when homes became a highly leveraged asset class, flipped and laddered by speculators, rather than lived in by normal folks.