I live in Santa Monica, which by one metric has the most expensive hotel rates in the state of California [1]. The result? Multiple people either buying or ren

I live in Santa Monica, which by one metric has the most expensive hotel rates in the state of California [1]. The result? Multiple people either buying or renting multiple properties to AirBNB them and the availability and price of residential rentals beginning to approach what I left behind in SF. I know several people who are essentially employed fulltime as managers for absentee renters, or rent out 3-4 apartments scattered around the city and live in whichever is getting the least interest on AirBNB. A few people get caught and evicted, but for the most part this behavior continues unimpeded. Looking for an apartment two years apart in the exact same neighborhood (fall 2012 and fall 2014) I saw an incredible difference completely unrelated to any other economic change in the area. I'm not sure what else to attribute it to. 1 -http://www.surfsantamonica.com/ssm_site/the_lookout/news/News-2014/June-2014/06_18_2014_Santa_Monica_Named_Most_Expensive_Destination_in_California.html http://www.surfsantamonica.com/ssm_site/the_lookout/news/New...