"New York City's Thriving Real Estate Market Comes at a Steep Cost: Report Reveals Alarming Trend of Home Flipping Displacing Black Residents. A recent report has shed light on a disturbing phenomenon in the city's real estate market: home flipping is not only driving up housing prices, but also pushing out long-time Black residents in neighborhoods across the five boroughs. The report, which analyzed data from the past decade, found that home flipping has become a lucrative business in NYC, with investors buying up properties, renovating them, and then selling them for hefty profits. However, this trend has a disproportionate impact on Black communities, who are being priced out of their own neighborhoods and forced to seek housing elsewhere in the city."
Home flipping in NYC is hiking prices, pushing out Black residents, report says Gothamist
