Las Vegas Great for Hipster Flips

IRVINE, CA-Las Vegas is one of the country’s best housing markets for flipping homes to sell to hipster buyers, according to Irvine-based RealtyTrac. Several factors, including demographics and the hard-hit foreclosure scene here make the market ideal for this type of venture.

Hipsters have been accused of holding back a more robust housing recovery because of their low homeownership rates and lackluster household formation, says RealtyTrac. The US Census Bureau—which defines hipsters as those aged 25 to 34—reports that only 41% of this demographic were homeowners in 2012. This is well off the average hipster homeownership rate of 46% from 1982 to present, and it’s below the high of more than 49% in 2004.