We have just begun to realize the far-reaching implications of the impending housing price slump. One of the most devastating impacts for Angelenos will be on the ubiquitous Industry. Much like many-a-realtor, TV has raked in the cash thanks to the inflated prices of houses. As, the L.A. Business Journal posits, what is next for TV’s love of the ubiquitous house flipping/hunting/selling show now that the market is cooling? We secretly loved Bravo’s “Million Dollar Listing” (and it wasn’t because of the houses, if you know what we mean), but we’re not so sure that people will want to watch “JUST REDUCED Listing.” It doesn’t seem to have the same cache. And it will be rather sad to watch an episode of “Flip That House” where some flippers buy a home and then take a loss just so they can get that liability off of their balance sheets. This is far more of a crisis than we could have imagined.
· Housing Slump May Trip Flips [L.A. Business Journal]
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