Laura Kusisto

speaker

689 appearances 14 recordings 1 series first heard Jul 2017 last heard Nov 2023

Laura Kusisto’s voice in public audio — every appearance, attributed to the second.

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WSJ Your Money Briefing · First-Time Condo Buyers Get a Boost from the Government · 15 Aug 2019 podcast

Now it's going to be every three years.

But as you can imagine, just a lot of condos associations don't bother.

And so what they started doing the last time around was doing these so-called spot approvals.

So you could call – basically you could call into HUD and say, can I get this loan approved even though the building isn't approved?

And you can imagine how quickly that spiraled out of control.

So what they're essentially doing is bringing back, they don't want to call them spot approvals, but that's basically what they're doing.

But bringing back these kind of individual loan approvals, but with somewhat more restrictions and hoping that they won't have the same problems they did last time.

Yeah, thanks so much.

WSJ Your Money Briefing · House Flipping Is Back to 2006 Levels. Should We Worry? · 10 Apr 2019 podcast

Yeah, that's the idea.

This new analysis took a close look at profits and what profits flippers are getting and where they're getting those profits from.

What it basically found is that what's really driving profits this time around is more professional flippers buying older homes, putting money into it, taking that dilapidated mansion, making it into a gem.

And that's a really different thing than what we're seeing last time when we're seeing, you know, just real amateurs buying homes in the suburbs, letting them sit for a couple of years and then trying to turn a profit.

More institutional flippers and people more putting work into homes, buying those homes that your average home buyer just really doesn't want to take on.

Yeah, that's right.

The homes today on average are about 39 years old, and you have markets like Philadelphia on the extreme where the homes are nearly a century old.

And so you can understand why just your average 27-year-old first-time buyer doesn't want to take on that 90-year-old Philadelphia mansion.

Yeah, definitely.

Anecdotally, something I heard from a lot of flippers is that it's getting very competitive out there.

There's a lot more people who are

interested in these homes they're sort of suddenly you go to see one of them and there's six people lining up down the block and they're competing with a lot of the sort of that same space as your average first-time buyer and that's really even though we have overall seen inventory start to grow that's a segment of the market we're still really seeing a shortage so even though you said that it's more institutional flippers at work here and it's a it's a bit more controlled if you will there's still some risk associated with this

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