How the 2008 subprime mortgage crisis paved the way for shows like Fixer Upper and Flip or Flop

The New York Times

HGTV and DIY Network, cable networks dependent on housing and real estate programming, had to shake up its programming lineup following the housing crash of a decade ago. Some HGTV shows were canceled because they didn't fit the recessionary times. Fixer Upper, which debuted in 2013, "was markedly different in tone and purpose from the flashy home TV shows popular in the go-go years before the crash," reports Steven Kurutz. "With their focus on family (the couple have five children), the Gaineses became unlikely stars by celebrating the virtues of responsible home stewardship, rather than trying to turn run-down properties into profit centers." Flip or Flop, on the other hand, "occupied a middle ground between the home-restoration and cash-in genres," says Kurutz, adding: "Built into the premise was a twist: The hosts had Great Recession bona fides. When the real estate market tanked, so did their business, forcing them to downgrade to a $700-a-month apartment. They began feeding off fellow casualties of the mortgage crisis, flipping foreclosures, short sales and bank-owned properties."