Coronavirus (COVID-19 Outbreak) (58 Viewers)
- Thread starter Bjerknes
- Start date
Came across this great assessment:
https://www.bloomberg.com/opinion/a...-airbnb-become-obsolete-after-the-coronavirus
It's pretty clear that AirBnB is a pay-to-let scheme for investors and not at all about communities and sharing economies. And I write you this living on the only inhabited unit of a 6-story building in the heart of Lisbon. Every other floor was dedicated to AirBnB leasing. Mine was only converted from an AirBnB by us because our landlord had three kids and grew tired of the hassle and thus turned it over to longer-term locals.
AirBnB won't go away. But its business model has probably just been sliced to 20% of what it was three months ago, now that so many real estate speculators are naked with extra mortgages and having to flood the local rental market with anywhere from 40-60% more inventory that was previously locked up for tourists.
Oh man, this means that 30-40% of the rental property market in major cities across the world is backed by an overextended owner bankrupt of any revenue streams to cover costs for many, many months. This has to be another real estate scam meltdown coming in the works globally in the next 3-6 months. This isn't even a question of tenants holding off on paying rent and governments helping with a bailout. These are property speculators with fallow assets and zero income to fend off mortgage defaults.
If you want to know why millennials have been unable to afford a place in cities, here's your smoking gun. The inventory was being used as an asset to store capital. Ironically, millennials paying for AirBnBs everywhere were contributing to why they could never afford these places.
https://www.bloomberg.com/opinion/a...-airbnb-become-obsolete-after-the-coronavirus
It's pretty clear that AirBnB is a pay-to-let scheme for investors and not at all about communities and sharing economies. And I write you this living on the only inhabited unit of a 6-story building in the heart of Lisbon. Every other floor was dedicated to AirBnB leasing. Mine was only converted from an AirBnB by us because our landlord had three kids and grew tired of the hassle and thus turned it over to longer-term locals.
AirBnB won't go away. But its business model has probably just been sliced to 20% of what it was three months ago, now that so many real estate speculators are naked with extra mortgages and having to flood the local rental market with anywhere from 40-60% more inventory that was previously locked up for tourists.
Oh man, this means that 30-40% of the rental property market in major cities across the world is backed by an overextended owner bankrupt of any revenue streams to cover costs for many, many months. This has to be another real estate scam meltdown coming in the works globally in the next 3-6 months. This isn't even a question of tenants holding off on paying rent and governments helping with a bailout. These are property speculators with fallow assets and zero income to fend off mortgage defaults.
If you want to know why millennials have been unable to afford a place in cities, here's your smoking gun. The inventory was being used as an asset to store capital. Ironically, millennials paying for AirBnBs everywhere were contributing to why they could never afford these places.
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the holy water.
Regulation and some form of limited licensing. Most cities on the coast here in Canada have huge rental unit availability issues right now because people are willing to leave places either empty or only offer short term rentals through the winter because they can make so much more through basically unregulated and unlicensed air’bnb over the nicer 6 months of the year.
Hotels played a part in this, getting more and more expensive, to the point it was close to impossible for the average person to stay in them during travels... but air’bnb as a cure for this is causing a lot of problems, even though personally, being selfish, I like using air’bnb.
Hotels played a part in this, getting more and more expensive, to the point it was close to impossible for the average person to stay in them during travels... but air’bnb as a cure for this is causing a lot of problems, even though personally, being selfish, I like using air’bnb.
I think governments may need to foreclose on all the speculation owners who won't be able to make their mortgages -- give them a discounted value on the property and create quasi-federal housing out of them until at which point over time they can be privatized to actual resident owners. Because the buy-to-let model is really just another form of stupid that got people buying houses in Las Vegas on interest-only loans 13 years ago. A good idea got financialized to the point where it was superfragile and capable of mass financial and neighborhood destruction.
I do have to say though, it is pretty awesome having a 6-story building all to myself with no other tenants but the two of us. But that just reflects the magnitude of the overleveraged financial disaster all around me.
I don't blame hotels at all for this. Few jacked their prices up to make bigger profits, because they weren't all that profitable. They paid taxes, the employed people in the local economy, and they were zoned in ways as to not gut neighborhoods of their residents and the stores that served those residents.
AirBnB created a regulatory loophole that got exploited massively to the point of collapse. And yes, the units were cheaper than hotels. But the act of using them was just setting us all up for eventual systemic failure and collapse.
I do have to say though, it is pretty awesome having a 6-story building all to myself with no other tenants but the two of us. But that just reflects the magnitude of the overleveraged financial disaster all around me.
I don't blame hotels at all for this. Few jacked their prices up to make bigger profits, because they weren't all that profitable. They paid taxes, the employed people in the local economy, and they were zoned in ways as to not gut neighborhoods of their residents and the stores that served those residents.
AirBnB created a regulatory loophole that got exploited massively to the point of collapse. And yes, the units were cheaper than hotels. But the act of using them was just setting us all up for eventual systemic failure and collapse.
This is the kind of appeasement attitude that got us in this mess, for all his faults Trump just doesn't put up with that shit and i respect him for that. China is a clear and immediate danger that we need to address without being bogged down about the possible consequences, this is an existentialist threat.
What do you think the net impact of these proposals are? US pays 23% of WHO's funding.
https://foreignpolicy.com/2020/02/1...ronavirus-state-department-usaid-budget-cuts/
https://foreignpolicy.com/2020/02/1...ronavirus-state-department-usaid-budget-cuts/
The best match between the self assessment you provided and the profile of a fictional character as rated by other people who have taken this survey is the character Sayid Jarrah (LOST).
90% match
9th pick is black panther?
90% match
9th pick is black panther?
- Sayid Jarrah (LOST): 90%
- Nick Fury (Marvel Cinematic Universe): 89%
- Bruce Wayne (The Dark Knight): 89%
- Black Widow (Marvel Cinematic Universe): 88%
- Benjamin Sisko (Star Trek: Deep Space Nine): 87%
- Captain Marvel (Marvel Cinematic Universe): 87%
- Kima Greggs (The Wire): 86%
- Trinity (The Matrix): 86%
- Black Panther (Marvel Cinematic Universe): 85%
- Gamora (Marvel Cinematic Universe): 85%
- Cristina Yang (Grey's Anatomy): 85%
- Princess Leia (Star Wars): 85%
- Zoe Washburne (Firefly + Serenity): 84%
- Russell 'Stringer' Bell (The Wire): 84%
- Maeve Millay (Westworld): 84%
- Harvey Dent (The Dark Knight): 84%
- Elizabeth Swann (Pirates of the Caribbean): 84%
- Arya Stark (Game of Thrones): 83%
- Lee 'Apollo' Adama (Battlestar Galactica): 83%
- Morpheus (The Matrix): 83%
- Asha Greyjoy (Game of Thrones): 81%
- Jack Shephard (LOST): 81%
- Desmond Hume (LOST): 81%
- Dukat (Star Trek: Deep Space Nine): 81%
- Tony Stark (Marvel Cinematic Universe): 81%
- Dr. Strange (Marvel Cinematic Universe): 81%
- Aragorn (Lord of the Rings): 81%
- Legolas (Lord of the Rings): 81%
- The Operative (Firefly + Serenity): 81%
- Dolores Abernathy (Westworld): 81%
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