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Homes "unaffordable" in 99% of nation for average American (www.cbsnews.com)

submitted 11 months ago by Blaze@discuss.tchncs.de to c/personalfinance@lemmy.ml

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[–] kemsat@lemmy.world 15 points 11 months ago (1 children)

Inherently, flipping houses is about increasing the price of the home. This directly relates to the article by making more houses further out of range of more people.

[–] mke_geek@lemm.ee 1 points 11 months ago

Houses with issues might not be able to be financed by a mortgage. So a company/individuals will fix the issues, then resell the house to someone who can now get an FHA loan for it.

FHA loans have strict requirements on the condition of the house in order to give funding.

If someone does work on the house, they should get paid for their efforts.