cheryl
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Americans still think they can make money flipping houses - CBS News
- Americans prefer real estate to any other investment, a new survey shows—with millennials liking it most.
- But housing is a so-so way of making money. It's hard to sell quickly and often needs upkeep that can cost thousands of dollars a year.
- Unlike many other assets, the very process of buying and selling a house also costs thousands of dollars, which can eat away any increase in the purchase price.
- "We have many more clients that have broken even or lost money in real estate than have made a killing in it," said one financial planner.