In the 21st century, everyone knows the word “gay” refers to people that are homosexual, but back in the 1950s, the meaning was contested. The alternate definition was “full of joy and mirth.”
Can you imagine the confusion? Tell one group of people that you’re “gay” and they’ll assume you’re happy. Tell another group and they’ll reach for a cross and a can of gasoline.
Right now, “flipping houses” creates the same effect. It has two definitions:
1) The process of *legally* selling a property for a fast profit, sometimes using little or none of your own money
2) The process of *illegally* selling property for an artificially inflated value, often involving a group of criminal appraisers, loan officers, and investors
Do you see the similarity with “gay?” One definition is upbeat and accepted, while the other is (currently) unacceptable and downright scary. The majority of the world understands “flipping” as an illegal activity, where a small minority are trying to redefine it as a legitimate real estate investment strategy.
The reason:...