Calculated Risk's resident capitalism philosopher, the low-key and Sam Clemens rich Jim the Realtor, displays another trenchant episode in the long playing tale of capitalism. You pay your money, you take your risk. Jim displays a plain, one-level ranch house in the working class town of Oceanside, California in San Diego County.  The house is just south of the feverish and vast Camp Pendleton; there is much demand for short term rentals and medium term ownership.  Jim's obtuse remarks at the close hint that there is class, tribe and security friction in the area, and this makes flipping a chance that can crash.  The capitalist bought this house for $163k in January 2009, put in $40k work and fixtures, flipped it for $265k in April.  Annualized profit at 100%.  Capitalism works if and when the aimless, clumsy Federal government, toying with the tax money of our grandchildren, ceases propping up zombie prices that devolve to deathless banks for the benefit of vanished pirates.