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Most flips are actually value-adds, where the flipper buys an old dilapidated house and upgrades it and resells it at a profit. Which is just normal economic activity. Of course, there may be some price speculation and unwise debt financing, but that doesn't make the underlying activity itself illegitimate or unethical.
Dunno much regarding quality of building materials. I did recently visit Toledo in Spain and seeing the gorgeous architecture which has lasted centuries made me wonder why we don't build anything as lasting in the modern world.
Somewhat tangentially -- i recently heard an alt(shit)coiner try to explain the ethics of their activity by saying that money-making has always been about people figuring out ways of exploiting others (a less eloquent paraphrase). By no means do I agree.
Which is just normal economic activity
Shitcoins/nfts and the like have the shadowy semblance of this, perhaps, leaving out the value-added part.
I take your point.
Isnt "Flipping" houses essentially this over a longer time horizon?
Add to that the diminishing quality of building materials and the amount that this done thru financing, and how far really have we strayed?