Socio-Economic Effects of Professional Real Estate Flipping on Local Housing Markets: Updating the Housing Stock and Improving Access to Quality Housing
Abstract
This has made professional real estate flipping activity to be eminent in most housing markets especially in urban areas where there is a housing shortage and residential infrastructure that is aging. It is a common practice where the undervalued or distressed properties are bought, refurbished and sold in the short term. Although real estate flipping is usually attributed with the effect of increasing property prices and housing speculation, professional flipping can also lead to great socio-economic gains to the local housing markets. This paper focuses on the socio-economic impacts of professional real estate flipping, specifically its contribution to the renovation of housing stock and the quality housing accessibility. The study examines how professional investors can rehabilitate depleted properties thus improving the housing conditions leading to neighborhoods redevelopment. It also determines issues concerning affordability, inflation of property prices and how it would evict the poor. The study uses the available literature and evidence of the housing market to assess the equilibrium between the positive and negative effects of flipping activities. The results indicate that housing quality can be enhanced and promote the local economic activity in case professional real estate flipping is enhanced by suitable housing policies and regulation frameworks.
Keywords
Professional Real Estate Flipping, Housing Market Dynamics, Housing Stock Renewal, Housing Affordability, Urban Revitalization
Citations
IRE Journals:
Roman Jaiani "Socio-Economic Effects of Professional Real Estate Flipping on Local Housing Markets: Updating the Housing Stock and Improving Access to Quality Housing" Iconic Research And Engineering Journals Volume 5 Issue 4 2021 Page 435-446 https://doi.org/10.64388/IREV5I4-1715884
IEEE:
Roman Jaiani
"Socio-Economic Effects of Professional Real Estate Flipping on Local Housing Markets: Updating the Housing Stock and Improving Access to Quality Housing" Iconic Research And Engineering Journals, 5(4) https://doi.org/10.64388/IREV5I4-1715884
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