Michael Candelario Discusses How House Flippers Are in a Good Position to Prosper During the COVID-19 Pandemic
PHOENIX, AZ, USA, March 30, 2021 /EINPresswire.com/ — Michael Candelario says there are a number of factors that contribute to the positive outlook for house flippers during the pandemic.
The COVID-19 pandemic has thrust hardships and unimaginable losses upon millions of people in the United States. Uncertainties in regard to job security, the ability to keep food on the table and keeping a roof over their heads is the source of fear among many people in America. Entrepreneur Michael Candelario, says that people who repair and flip houses are in great shape to prosper during the pandemic.
Home building companies are facing a number of challenges during the pandemic, which has caused many home builders to either limit the number of new homes they build, or abandon new projects altogether. “What we are seeing right now in the housing market is a unique set of circumstances. For example, the demand for housing remains high because people who live in more urban areas hit the hardest by COVID-19 are looking to move away from those areas, the demand for the building of new homes has taken a rather substantial hit.”, Michael Candelario said.
Studies have shown since the beginning of the pandemic, the costs of engineered wood products and wood and lumber have continued to rise, and there have been a number of issues associated with the supply and demand of building products that have resulted in shortages. “When the supply can’t keep up with the demand, no matter what the product is, it can have a devastating effect. In the case of people who build homes, a lack of supplies results in the costs associated with building being passed on to consumers to the tune of thousands of dollars.”, Michael Candelario said.
Many people have lost their homes during the pandemic, and are looking for better alternatives than staying with family and friends, or living in temporary housing like an extended stay hotel. “The market for homes that have been flipped has never been better. The prices are much more attractive to people who are looking to purchase a home because a flipped home is more of a home improvement project versus a complete new build. The shell of the home and the foundation is already there, so the cost of the lumber and supplies needed to construct the frame and structure of the home is already there. This saves buyers because those materials don’t have to be resourced.” Michael Candelario stated.
During the pandemic, there has been an increase in the number of niche or item specific businesses. House flippers are among those. “Look, the bottom line is, people are looking to get the best deal for the money they have during these tough times. House flippers are prospering during this pandemic because they offer consumers almost-new housing options. Combine the demand for home flipped products with mortgage rates that are lower than they have ever been, home flippers are in a great position to prosper during the pandemic.”, Michael Candelario said.
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