gary
I dotn deny that it may be going on in the real low end East County zips to a much greater degree but in the NCC and Central Coastal markets it just isnt happening anywhere close to the extent posited by CAR or JP.
BTW, many of those home being flipped in East County were likely formerly uninhabitable and would not qualify for loans in their former condition. The flippers are fixing homes and making them marketable. The FHA buyers are getting homes they can afford (remember qualifying is tough) that are in turn key condition and they dont have the money to fix up even cosmetic fixer homes. In low end markets like that, I think the flippers serve a far more important role than in higher end ZIPS.
