Home Flippers Get Burned by US Housing Market’s Sudden Slump

Bloomberg, Oct. 11, 2022–Prashant Gopal
After an abrupt end to the US housing boom, home flippers who were winning big just months ago are now racing to stem losses. Doubling of mortgage rates since January has crushed buyer demand and depressed values in investors’ most favored locations, from Phoenix and Las Vegas to Jacksonville, Florida.