Residential Real Estate Traders: Returns, Risk and Strategies

Giacoletti, Marco; Westrupp, Victor

doi:10.2139/ssrn.2892439

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Cited by 6 publications

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“…The authors identify the improvements flippers made by measuring the degree of above‐market appreciation that a flipper earns persistently at the subsequent sale of the same property. Giacoletti and Westrupp (2019) use a unique data set on home remodeling expenses to keep track of house improvements occurring between resales across four metropolitan areas in their sample. Their data set includes property level data on the timing and cost of major renovation jobs.…”

Section: Literature Reviewmentioning

confidence: 99%

Externalities of residential property flipping

Yavaş

Zhu

2022

Real Estate Economics

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This study investigates whether flipping activities impose an externality on the transaction prices of the neighboring nonflipped properties. Using a data set of residential property transactions in Clark County, Nevada for the period 2003-2013, we find that flippers impose a significant positive impact on the price of neighboring nonflipped properties in an up market, but a significant negative effect in a down market. This procyclical impact of flipping activity contributes to the volatility of housing prices, hence magnifying boom and bust cycles and increasing the likelihood of a mortgage crisis.

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Section: Literature Reviewmentioning

confidence: 99%