Quote:
Originally Posted by NAZ_2_NAZ
Agreed. These corrections people keep on talking about i believe will just be a slow down in the increase of the market prices as of todays prices. If the short term speculators are allowed to continue to further create this false demand in the market for another year by flipping again and again, then yes it is only time before we see a major correction of 20-30%. As the flippers margins are constantly reducing now. or the time it takes to sell is getting longer, i think flipping will slow down harshly soon. So this should not happen any way.
Even flippers need clients to sell onto, usually people who have experience in investment and thus knowledge of the market, they have had to be savvy to create the funds to purchase these deals at 5-10% + premium, so they can go on and make money on it. The quick return days, double your money in a queue are very numbered.
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I call that a "WOW " words of wisdom.
What you are saying is absolutely right. Flippers are finding it hard to operate as the market matures. I do agree there are pockets where flipping still exists, for eg : Badrah and that was only because the price was reasonable. That too, in time to come will stop.
Once the flippers are out. The artifical pricing will not last and the developer would be forced to bring his price down - OR - offer incentives like free children education for 10 years
I would be preparing myself for ready properties, buy and rent and be happy for the rest of my life.
Regards
Roshan