Chatting with a 22-year-old Real Estate Millionaire



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“The term “flipping” is used by real estate investors to describe “residential redevelopment”. Redevelopment of distressed or abandoned properties or neighborhoods has sometimes been linked to malicious and unscrupulous acts in the post housing bubble era. The term “flipping” is frequently used both as a descriptive term for schemes involving market manipulation and other illegal conduct and as a derogatory term for legal real estate investing strategies that are perceived by some to be unethical or socially destructive. In the United Kingdom the term is used to describe a technique whereby Members of Parliament were found to be switching their second home between several houses, which had the effect of allowing them to maximize their taxpayer funded allowances.” – wikipedia

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Why Real Estate and Housing Prices in California Continue to Rise | Lee O'hanian



California is facing a housing shortage as the median price of real estate exceeded 700,000 thousand dollars for the first time in the state’s history in 2020.
My guest today is Lee Ohanian. He is a professor of economics at UCLA and senior fellow at Stanford’s Hoover Institution.
Today he discusses the root cause of California’s housing shortage and the high cost of real estate.
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