Tag Archives: NY Fed: House flippers contributed to bust and boom

Four years after the housing bust, researchers at theFederal Reserve Bank of New York are putting some of the blame on real estate speculators, saying they played a key role in blowing up the housing bubble that eventually popped, causing home prices to tumble nationwide. In a report titled  “Flip This House: Investor Speculation and the Housing Bubble,” four researchers claim borrowerswho owned multiple homes for investment purposes played a key role in running up national home values right before the 2007 housing meltdown. In fact, the report found a third of […]