My Marxist brain: “The middle class is an illusion created by the bourgeoisie to trick working class people who are well off into believing they’re in a systemically better situation than the impoverished under-employed. When even most middle class people are still 2-3 missed paychecks away from living on the street”
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Having just bought a house from a flipper, I would be extremely reluctant to ever do that again. Everything looked great. On the surface. But the longer we’re here, the more we can see how shoddy the workmanship was. Some things were caught at inspection, like the fact that there was no water heater. Other things, like the fact that they installed a refrigerator with an ice maker and water dispenser but never ran a water line to it, were not. So we bought a flipped house that we’re now having to work on to make it livable. But coming from Kansas City to New Jersey, this was what we could afford.
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A couple of homes have flipped near where I live recently and my siding guy who worked on them told me that when they replaced the drywall and siding they just covered up the mold inside the walls. Yikes!
The flippers did amazing work on the homes but, damn, the new owners are going to be dealing with the mold problem soon enough.
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The weird thing about these housing bubbles is that when they break they really break hard. That $330,000 house you paid over $400,000 for can turn into a boarding house with $200 rents in what seems like the blink of an eye if just one business decides to move or a recession starts. Look up Boston Massachusetts, “South End” neighborhood as an example. Started upscale, then down, then up, then down and now we’re back to upscale townhouses like it started as.
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