While the practice of flipping houses has not yet returned to its pre-recession levels, one city in particular, is climbing quickly back to peak levels: Las Vegas.
According to an article by Patrick Clark, the slow return of house flipping (i.e., buying buildings needing various levels of repair, fixing them up, and selling them at a profit shortly after) is finally picking up some momentum. Evidence Las Vegas, "where flipping is making a steady comeback."
Clark reports that "flips accounted for 10.4 percent of homes sales in the Las Vegas metropolitan area" during the third quarter of the 2015. The Las Vegas percentage far outpaces the national average of 5 percent (which is still sluggish compared to the pre-recessionary rate of 8.6 percent set in 2006). The Las Vegas flip rate is still down from a peak of 13.1 percent set in the third quarter of 2005, but along with Birmingham, Alabama, the city is clearly leading the nascent renaissance of house flipping. The data on house flipping is found in a report released last month by Trulia.
The article goes on to speculate about why the practice of house flipping is making its comeback in Las Vegas (hint: home prices in the region are low).
FULL STORY: House Flipping Is Making a Comeback in Las Vegas
The 'Redacted Landscape' of the Las Vegas Fringe
Bldg Blog shares news of photographer Michael Light's new book "Black Mountain," which documents the "the construction and large-scale terrestrial formatting of a new housing development called Lake Las Vegas."
When Wall Street Controls the Housing Market
A debate about the effect of the increasing footprint of large, institutional investors in the housing market is further fragmenting the politics of development in the United States.
'The Great Real Estate Reset'
Business as usual in the real estate industry is failing the economy and the political and social cohesion of the United States, according to a new initiative launched by the Brookings Institution.
Planetizen’s Top Planning Books of 2023
The world is changing, and planning with it.
Chicago Red Line Extension Could Transform the South Side
The city’s transit agency is undertaking its biggest expansion ever to finally bring rail to the South Side.
How ‘Daylighting’ Intersections Can Save Lives
Eliminating visual obstructions can make intersections safer for all users.
Green Spaces Benefit Neighborhoods—When Residents can Reach Them
A study comparing green space and walkability scores found that, without effective access to local parks, residents of greener neighborhoods don’t reap the health benefits.
Eugene Ends Parking Minimums
In a move that complies with a state law aimed at reducing transportation emissions, Eugene amended its parking rules to eliminate minimum requirements and set maximum parking lot sizes.
Chicago Announces ‘Better Streets for Buses’ Plan
The plan establishes a ‘toolkit’ of improvements to make the bus riding experience more reliable, comfortable, and accessible.
Alamo Area Metropolitan Planning Organization
City of Morganton
San Joaquin County
HUD's Office of Policy Development and Research
HUD's Office of Policy Development and Research
Chaddick Institute at DePaul University
Park City Municipal Corporation
National Capital Planning Commission
City of Santa Fe, New Mexico
Urban Design for Planners 1: Software Tools
This six-course series explores essential urban design concepts using open source software and equips planners with the tools they need to participate fully in the urban design process.
Planning for Universal Design
Learn the tools for implementing Universal Design in planning regulations.
