I just moved to the US and like a tv program on HGTV channel called Flip or Flop. I have no idea what this phrase means? Could somebody offer an explanation?
In the US, there is a thriving industry which involves buying distressed properties and re-selling them for a profit before the first mortgage payment comes due - it is called "flipping houses". "Flop" means failure (in this context). So, the title means: Will the objective of "flipping" the property be successful, or not?
"Flip-flop" is an expression meaning: to change one's point of view on an issue. It is also the name of a certain gymnastic trick. The name of the program is playing with this expression.