One Airbnb host has $22,000 in monthly expenses due and no way to pay. This is how mini real-estate empires across the country are crumbling.https://on.wsj.com/3eZ7KOv
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Airbnb resulted in close to 2,000 housing units being removed from the housing supply. We now have studios renting for $1,500, 1 bedrooms for $2,300, 2 bedrooms for $3,000. Most cheap places are scams or borderline slums. Airbnb and its users can go fruck themselves.
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Agree totally!
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Banger!!
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Sounds good to me
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Housing market has been artificially inflated, again, because of low interest rates, too -
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Also (in some areas) by part-ownership schemes, where the "buyer" is only purchasing, say, 30% of the property (and leasing 70%). This creates a false market of fake affordability. (Developers love it!)
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Reserves? Emergency fund?
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In Dublin when Air bnb was forced to shut, the supply of rental properties rose 83% in a few days. There is no doubt Airbnb is contributing hugely to housing problems worldwide.
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Point blank: real estate cannot be both affordable and a good investment, unless there is substantial government intervention to provide affordable housing.
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Properties for rent in Dublin, one of the most expensive cities in Europe for renting, has 10,000 families in emergency accommodation, went up by 64% when the country went down.https://www.independent.ie/business/personal-finance/property-mortgages/rise-of-64pc-in-rental-properties-across-dublin-in-midst-of-coronavirus-crisis-daft-report-39061809.html …
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