LETTER: Home-flipping loses its appeal

Mary Birdwell Henderson

3 years ago

In this Jan. 13, 2021, file photo, tenants' rights advocates demonstrate in front of the Edward ... — In this Jan. 13, 2021, file photo, tenants’ rights advocates demonstrate in front of the Edward W. Brooke Courthouse in Boston. (AP Photo/Michael Dwyer)

On Saturday, I read two Review-Journal articles regarding home flipping in Las Vegas. The first was about how Redfin was laying off 862 people and closing its home-flipping business. The second was headlined “Flipping houses is losing its appeal.”

If we have learned one more thing about real estate from the government’s response to COVID, it is that being a landlord can also be a losing proposition as the government, at a whim, can tell your renters they don’t have to pay you the monthly rent they signed a lease to pay.