House Flipping in South L.A.: That's So Right!

Like many parts of the nation, but especially here in Southern California, the neighborhood known as South Los Angeles is pockmarked with foreclosed properties, the result of aggressive subprime lending. But unlike some other parts of town, house flipping just may save South L.A. from what would otherwise be a bleak destiny.

As the Los Angeles Timesproclaims, "Flipping houses is back in South Los Angeles," citing figures from MDA DataQuick, which showed that at least three different South L.A. zip codes were among the top in Southern California for frequency of flipped homes, defined as houses resold "within three weeks to six months of purchase."

And, says the paper, the MDA statistics reveal that in the Watts section of South L.A., "1 out of every 6 homes during the final three months of 2009 was flipped." That makes Watts the de facto flip capital of all of Southern California!