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Related: Editorials & Other Articles, Issue Forums, Alliance Forums, Region ForumsSmear article on Elizabeth.......
Democrats don't really care about the little guys and gals: Column
It's funny how preachy politicians and activist groups can be when it comes to pet issues like "economic justice." Yet when it involves their private interest,s it turns into a case of "do as we say, not as we do."
Case in point crusading Democratic Senator Elizabeth Warren, who said in her 2006 book All Your Worth that the idea that "you can make big money buying houses and flipping them quickly" is a myth.
If so, then in the 1990s Warren and her husband were myth-busters. According to a new report in National Review making hundreds of thousands of dollars buying a handful of houses at deflated prices and reselling them months or years later at a substantial markup.
http://www.usatoday.com/story/opinion/2015/05/29/warren-minimum-flip-union-clinton-equal-column/28146463/
whatchamacallit
(15,558 posts)Or maybe, regardless of her success, she understands the inherent risks.
Erich Bloodaxe BSN
(14,733 posts)Most people will not make money by 'flipping'. It's the sort of thing that people who are professional contractors, really willing to take enormous risks, or have the money to sit on idle properties can do, not something that should be encouraged as a sort of 'get rich quick' thing.
DanTex
(20,709 posts)InAbLuEsTaTe
(24,122 posts)BeyondGeography
(39,370 posts)The NR article is both detailed and mundane. We're talking a total of $242K in profits off of five homes if I read it right. But that doesn't take into account whatever money she invested in repairs/upgrades:
http://www.nationalreview.com/article/418907/elizabeth-warren-bought-foreclosed-homes-make-quick-profit-jillian-kay-melchior
Her point stands: the odds are against you getting rich doing this type of thing, and it is risky. This is the kind of faux-rage she probably had in mind when she was deciding not to run.