4 ms·
I suspect that a lot of people jumped on the airbnb hype train and thought they could be a landlord of multiple properties and probably got leveraged. Now they
by treebornfrog 6y ago
I suspect that a lot of people jumped on the airbnb hype train and thought they could be a landlord of multiple properties and probably got leveraged.
Now they're in trouble as their income dries up.
- paulcole 6y agoInteresting theory. How’d you come to that conclusion?
- fennecfoxen 6y agoPerhaps poster has read news coverage. https://www.wsj.com/articles/a-bargain-with-the-devilbill-comes-due-for-overextended-airbnb-hosts-11588083336 https://www.wsj.com/articles/a-bargain-with-the-devilbill-co...
- paulcole 6y agoI thought it might’ve been this quote from the original article: > Airbnb has created a mechanism in which you can....donate money to landlords....many of whom have overextended themselves by leveraging multiple properties It’s a big leap to make but I can see how that would influence their theory.
- tirpen 6y ago> Now they're in trouble as their income dries up. Good.
- treebornfrog 6y agoDarwinism at it's finest.
- throwaway98797 6y agoServes them right for taking a risk.
- rrrrrrrrrrrryan 6y agoIt serves them right for driving up rents and housing costs in their cities, which contributes to homelessness. It's a watered down version of the same schadenfreude people felt when the guys that hoarded warehouses full of N95 masks got burned. They made a large investment and took a risk, but their speculation was at the expense of the wider community, so they shouldn't be surprised when the community had no pity on them when their investment didn't work out.
- opportune 6y agoThis tends to happen when you overleverage on a risky asset. Good, housing prices in many markets need a sharp correction for affordability
- billpg 6y agoThey can always sell their buildings, meh.