3 ms·
I have to say, I hope these people go bankrupt. At first, it was just some guy renting out his spare bedroom, or attached unit. Nobody cared about that, and w
by blackrock 7y ago
I have to say, I hope these people go bankrupt.
At first, it was just some guy renting out his spare bedroom, or attached unit. Nobody cared about that, and we supported them in their attempt to make an extra buck to pay for their mortgage.
But then, it became people who took out 5 to 10 mortgages, on separate properties, and turned these homes into a little hoteling empire. This reduced available properties, thus increasing housing costs for everyone, including buyers and renters.
And when you multiply this by thousands of people doing the same thing, then we all now have a very serious housing problem.
It’s a travesty, that the mortgage lenders allowed this to happen. This is also a result of a lack of regulation and oversight. Society must rectify this.
- deleted 7y ago[deleted]
- vipa123 7y agoNever let public good stand in the way of making a buck.
- duckMuppet 7y agoWe need to the govt to bail these folks out. If we can find an extra 84,500$ per month for Congresspersons to get childcare, i think we can find money to bail out these ppl.
- ianmobbs 7y agoIn what world is having an Airbnb empire, significantly increasing rental costs for actual residents of the city, morally equivalent to childcare?
- deleted 7y ago[deleted]
- chriswphoto 7y agoWell written! Airbnb hoteliers are a net negative for cities.
- fortran77 7y agoAnd of course, they probably got all sorts of tax credits and breaks intended for "first time home buyers" and not R-E investors.
- EricE 7y agoI dunno why the government needs to get involved, the whole article is about how market forces are evening out the very things you are complaining about. All without bureaucrats getting involved. Funny, that.