"The Detroit area [[Detroit-Livonia-Warren) ranked fifth in the survey, with a 58.3 percent return, calculated as the average gross profit as a percentage of the average original home-purchase price and also ranked 11th among markets with the highest share of flipped homes at 6.5 percent of total sales." according to Irvine, CA-based data company RealtyTrac. From Crain's via Bloomberg

58.3% return? It is an odd risky business, kind of Ponzi-scheme. As long as demand is increasing everybody is happy. According to that article it is soaring. Anybody here ever flipped? Is opportunity still there or has it peaked?

It makes me wonder how many homes and condos are never inhabited, just flipped from one speculator to another as if they were vintage cars or some other collectible.