When it comes to flipping houses in the U.S. it is the very wealthy who excel at the gross margin.
Total flipping activity (bought and sold in 6 months) is down by about 13% Y/Y but in the 2 to 5 million dollar price range, the flip count is up 350% Y/Y.
The mid and low end price flippers are being forced into holding, folding or chasing prices down the slope.
What's that old saying... "The rich get richer and the poor get children"? Well fortunately the poor are getting smarter and the birth rate is falling due to "demographic transition" according to Warren Sanderson, a professor of economics at Stony Brook University.
"Don't talk so much, old sport... Play!" The Great Gatsby F. Scott Fitzgerald