In a fun play on a popular phrase from the movie “Dumb & Dumber,” Inman is reporting locations where “Where home-flipping profits flow like wine And the millennials flock like the salmon of Capistrano.” Indeed….What they really mean are the top places to “flip to millennials.” Some takeaways:
- Home flipping has undergone a bit of a resurgence in 2015 thanks, at least in part, to a surge in low down payment FHA buyers, many of whom are millennials looking for their first home.
- The share of buyers using FHA loans increased 31 percent during the same time period, from 17.9 percent in Q3 2014 to 23.4 percent in the Q3 2015.
- The top counties to flip to millennials include: Philadelphia, St. Louis City and Baltimore.
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