Brazil Discovers Flipping Game

I’m sure this will work out fine. Or not. Brazil discovers the condo-flipping game:

Alexandre, a 37-year-old textile engineer from Morumbi, a smart neighbourhood of São Paulo a few miles north of the city’s Jardim Angela favela, has bought a penthouse apartment that is still being built but he is already thinking of selling it.

“I bought my first place in Morumbi in 2006 for R$100,000, sold it for double in 2010, signed up R$500,000 for this place in September and it’s going to get even higher when it’s finished,” he explains. “If I keep doing this I won’t even have to go to work any more.”

More here.