Socio-Economic Effects of Professional Real Estate Flipping on Local Housing Markets: An Evidence-Based Assessment of Housing Renewal, Affordability, and Neighborhood Change

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@article{1715884,
      author = {Roman Jaiani},
      title = {Socio-Economic Effects of Professional Real Estate Flipping on Local Housing Markets: An Evidence-Based Assessment of Housing Renewal, Affordability, and Neighborhood Change},
      journal = {Iconic Research And Engineering Journals},
      year = {2021},
      volume = {5},
      number = {4},
      pages = {457-465},
      issn = {2456-8880},
      url = {https://www.irejournals.com/formatedpaper/1715884.pdf},
      abstract = {In the hands of a professional, real estate flipping is the business of acquiring and renovating residential property with a view to a fairly quick resale. The socio-economic implications of this practice are frequently debated in starkly different terms: on one hand, renovation can be seen as an improvement to the usability and condition of housing; on the other, price hikes driven by investment can put the squeeze on affordability and heighten the risk of displacement. This article puts forward a structured review of the secondary evidence on these competing lines of argument. We have drawn our analysis from the published record – peer-reviewed studies and market data on urban renewal, housing flipping and the like. It should be noted that we make no pretense of having crunched an original dataset at the transaction level. As such, any city-level figures for appreciation or resale prices that do not point back to an identifiable transaction are not considered empirical findings here. What the evidence shows is that while flipping can play a part in reactivating and rehabilitating stock, how much benefit is realized is a matter of local policy, investor conduct and market conditions. Research also suggests an impact on nearby prices and volatility, though one cannot lay broader neighborhood change at the door of flippers without accounting for variables such as public renewal programs, migration, interest rates and infrastructure. In the end, the aim of this piece is to offer an integrated framework that makes a clear distinction between improving the quality of a property and actually expanding supply, and between claims made at the property and neighborhood levels.},
      keywords = {professional real estate flipping; housing renovation; housing affordability; housing stock renewal; neighborhood change; gentrification; housing markets},
      month = {October},
      doi = {https://doi.org/10.64388/IREV5I4-1715884}
  }