"No more neighbors, friends whose past Real Estate experience is renting an apartment or buying a starter house, or stay-at-home moms flipping houses locally;  young, flamboyant Realtors on reality, cable TV shows selling multi-million dollar trophy properties to those from abroad with briefcases of cash that until this year bought a lot relative to the 'weak' US dollar;  20-something Silicon-kids paying $2,000/sq ft for a house they could buy 20 miles away for $500;  large, institutional private equity firms buying 10s of thousands of single-family houses for rental purposes — sight unseens using computer programs —  thinking a 3% yield is acceptable long-term and somehow, someday economies of scale will emerge;  or individual / "family-style" speculators committing lending fraud at a pace that rivals 2006 chasing their share of the "easy money" in Real Estate, are needed to prove to me that Bubble 2.0 is not just a monster, greater in intensity and energy than Bubble 1.0, but will end the very same way…"

This week on the Kardashians, Scott Disick, the baby daddy of the oldest sister, revealed he was a new entrant to the house flipping scene with the purchase of a $3.7 million Beverly Hills "fixer-upper".