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A comment on Redfin Cuts 13% of Staff, Shuts Down Home-Flipping Business. Parent comment

Re:Redfin Cuts 13% of Staff, Shuts Down Home-Flipping Business by bpodgursky on Wednesday November 09, 2022 @10:12AM (#33532704)
I think the line is fuzzier than you'd think.

There's a large grey area of old/marginal/condemned housing stock where buyers are making a tradeoff between a teardown + rebuild vs buying an old house and patching it up.

Flippers who successfully rehabilitate an old house do increase the effective supply.

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Re:Redfin Cuts 13% of Staff, Shuts Down Home-Flipping Business by nicoburns on Wednesday November 09, 2022 @10:21AM (#33532836)
Where I live (UK), I think most young people would be grateful for an increased supply of cheaper rundown houses to buy. Done up houses we can't afford don't help at all.
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Re:Redfin Cuts 13% of Staff, Shuts Down Home-Flipping Business by bpodgursky on Wednesday November 09, 2022 @10:30AM (#33532981)
The thing is, a flipper is going to sell, one way or another. They'll try to stake a higher price, but they'll sell low if there's no alternative.

Supply, supply, supply is all that matters.

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Re:Redfin Cuts 13% of Staff, Shuts Down Home-Flipping Business by uoaei on Wednesday November 09, 2022 @11:19AM (#33533783)
"Guess the poors will just have to wait their turn" isn't really the great insight you think it is.
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Re:Redfin Cuts 13% of Staff, Shuts Down Home-Flipping Business by nrmitchi on Wednesday November 09, 2022 @11:08AM (#33533623)
> Flippers who successfully rehabilitate an old house do increase the effective supply.

100% agree that that is not what any of these ibuyer companies are/were doing.

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