Did home flipping drive the housing bubble?

Everyone can relax now. We know why the housin bubble happened. Well, the Federal Reserve Banks says they know anyway. It was those damn home flippers that did it. Whew, that's a relief! We will take just a few minutes (or an hour) to discuss just how smart or monumentally stupid that conclusion is. Can you guess which side I come down on yet? I know, I am an enigma.