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Flipping; Turning into a Dangerous Game?

CoreLogic says flipping is back. The term applies to the act of buying, renovating and/or repairing a house, then reselling it, all within a short timeframe. He found that 6.2 percent of home sales in the first quarter appeared to be flips. But, he points out, it was a different world back then. Prices were just beginning to rebound from their 2012 lows, the supply of homes was outstripping demand, and distressed sales had a 30 percent market share. Prices? Well everyone knows what has happened there in the last five years. CoreLogic puts the acquisition cost for a typical flipping candidate at about $170,000 in 2006. He says the high acquisition cost and tight inventories along with rising flipping activity can only mean investors are speculating, betting on continuous home price growth. Is it just us, or is this story not only an old one, but a little disturbing?