invite response« First « Previous Comments 180 - 219 of 269 Next » Last » Search these comments
180
richwicks
2023 Jul 3, 10:43pm
richwicks
2023 Jul 3, 10:43pm
Onvacation says
40 years of war. The real purpose of war from the point of view of the Federal Reserve is to enslave the country through debt.
If you look up the national debt in 1971, it's 398 billion dollars. The national debt doubles on average every 8 years and has been doing this since 1971.
https://www.thebalancemoney.com/national-debt-by-year-compared-to-gdp-and-major-events-3306287
Current national debt is I think 33 trillion.
Calculate it. It's entirely predictable.
Think war is cheap? It produces nothing and is very expensive. I wouldn't be surprised if we are fucked in less than 10 years. We're going to lose this proxy war against Russia. We don't even try to win wars. For the defense industry it's to make money, for the FED it's to enslave the country.
What caused the inflation?
40 years of war. The real purpose of war from the point of view of the Federal Reserve is to enslave the country through debt.
If you look up the national debt in 1971, it's 398 billion dollars. The national debt doubles on average every 8 years and has been doing this since 1971.
https://www.thebalancemoney.com/national-debt-by-year-compared-to-gdp-and-major-events-3306287
Current national debt is I think 33 trillion.
Calculate it. It's entirely predictable.
Think war is cheap? It produces nothing and is very expensive. I wouldn't be surprised if we are fucked in less than 10 years. We're going to lose this proxy war against Russia. We don't even try to win wars. For the defense industry it's to make money, for the FED it's to enslave the country.
181
Patrick
2023 Jul 3, 10:47pm
Patrick
2023 Jul 3, 10:47pm
GNL says
And that is called hereditary aristocracy, something we fought a revolution to escape.
Georgism is a good answer to the problem of real estate consolidation, among other problems.
I think there is a plan and the plan is to reduce all consumption. Only the higher classes will own (eventually) RE.
And that is called hereditary aristocracy, something we fought a revolution to escape.
Georgism is a good answer to the problem of real estate consolidation, among other problems.
182
Onvacation
2023 Jul 4, 5:06am
Onvacation
2023 Jul 4, 5:06am
richwicks says
So why are you blaming boomers?
Onvacation says
What caused the inflation?
40 years of war. The real purpose of war from the point of view of the Federal Reserve is to enslave the country through debt
So why are you blaming boomers?
183
DhammaStep
2023 Jul 4, 5:41am
Bitcoiner says
Oh fuck off. You have no problem with citizens being denied the right to work while celebrating Independence Day?
Happy birthday to the greatest country on earth! Happy 4th
Oh fuck off. You have no problem with citizens being denied the right to work while celebrating Independence Day?
184
richwicks
2023 Jul 4, 6:18am
richwicks
2023 Jul 4, 6:18am
Onvacation says
This is the generation that "won't get fooled again" that got fooled again over and over and over again. 7 times in just 20 years.
They saw the Pentagon papers, they knew the Gulf of Tonkin Incident was faked, but the insist every fucking war from 1980 onward was justified. The watched the Church Committee hearings, that was in 1975. I was 4 then, and I know about them. That had Operation Mockingbird revealed in it, it revealed the existence of MKUltra, Project SHAMROCK, and COINTELPRO. Our government has been doing surveillance on the population since the 1960's.
This is the make peace not war man generation that moved on to greed is good that moved on to turn the middle East to glass generation that is now Slavi Ukraini.
99% are completely brainwashed. These are the people that still think television has news. They are just frustratingly selfish and or easily controlled and they are very corrupt. Who is running the country now? Generation X? The Silent Generation? They've been in power since the 1980s. FINALLY the USSR collapsed. Where's the peace dividend?
There's been nothing but malinvestment since 1990. There hasn't been ANY accountability in government since the Savings and Loan Scandal.
I can see this this, I'm in X. If I tell a boomer that the 1993 WTC bombing was done by the FIB, explain who Emad Salem is, I'm just called "crazy" by them. If I point out that 9/11 was our Reichstag fire, explain all the "mistakes" both the FIB and CIA made, again, I'm crazy. If I point out that the Douma Chemical attacks were faked and explain what the TWO OPCW whistleblowers said, again... If I point out that Bana al-Abed COULDN'T have been in Aleppo, I'm just paranoid. If I explain this is why we know the US overthrew Ukraine in 2014, I'm just talking nonsense.
For over 20 years I've spotted the propaganda, and good luck convincing anybody in the boomer generation. My generation isn't much better, but it's better, and younger and younger are smarter are smarter and smarter. The boomers ought to know better. They saw the Gulf of Tonkin was faked in 1971. The - year I was born.
They are frustratingly gullible, and they have 100% faith in this government by and large.
So why are you blaming boomers?
This is the generation that "won't get fooled again" that got fooled again over and over and over again. 7 times in just 20 years.
They saw the Pentagon papers, they knew the Gulf of Tonkin Incident was faked, but the insist every fucking war from 1980 onward was justified. The watched the Church Committee hearings, that was in 1975. I was 4 then, and I know about them. That had Operation Mockingbird revealed in it, it revealed the existence of MKUltra, Project SHAMROCK, and COINTELPRO. Our government has been doing surveillance on the population since the 1960's.
This is the make peace not war man generation that moved on to greed is good that moved on to turn the middle East to glass generation that is now Slavi Ukraini.
99% are completely brainwashed. These are the people that still think television has news. They are just frustratingly selfish and or easily controlled and they are very corrupt. Who is running the country now? Generation X? The Silent Generation? They've been in power since the 1980s. FINALLY the USSR collapsed. Where's the peace dividend?
There's been nothing but malinvestment since 1990. There hasn't been ANY accountability in government since the Savings and Loan Scandal.
I can see this this, I'm in X. If I tell a boomer that the 1993 WTC bombing was done by the FIB, explain who Emad Salem is, I'm just called "crazy" by them. If I point out that 9/11 was our Reichstag fire, explain all the "mistakes" both the FIB and CIA made, again, I'm crazy. If I point out that the Douma Chemical attacks were faked and explain what the TWO OPCW whistleblowers said, again... If I point out that Bana al-Abed COULDN'T have been in Aleppo, I'm just paranoid. If I explain this is why we know the US overthrew Ukraine in 2014, I'm just talking nonsense.
For over 20 years I've spotted the propaganda, and good luck convincing anybody in the boomer generation. My generation isn't much better, but it's better, and younger and younger are smarter are smarter and smarter. The boomers ought to know better. They saw the Gulf of Tonkin was faked in 1971. The - year I was born.
They are frustratingly gullible, and they have 100% faith in this government by and large.
185
Tenpoundbass
2023 Jul 4, 6:26am
Tenpoundbass
2023 Jul 4, 6:26am
Tell the California Legislators to ease up on oppressive taxes, and trim down big government
Or
Blame everything on Boomers, and make every problem in California about a Property tax law.
hmmmmmm Tough Choice tough choice! We do like to bitch about old people, and well those taxes aren't going to pay themselves!
Or
Blame everything on Boomers, and make every problem in California about a Property tax law.
hmmmmmm Tough Choice tough choice! We do like to bitch about old people, and well those taxes aren't going to pay themselves!
186
Tenpoundbass
2023 Jul 4, 6:31am
Tenpoundbass
2023 Jul 4, 6:31am
On a serious question though. Doesn't every homeowner enjoy the tax benefits of Prop 13 or is it just Boomers that get it?
If every homeowner has a tax break, then why single out the Boomers? If the tax break is based on age, then why are the younger folks so shortsightedly stupid, to not realize it will benefit them too one day?
All tax fights are between the Citizens and the Government, it either takes a special kind of stupid tax base to make it about those fitting through loopholes and benefiting from them. It takes a diabolical Government that can make tax laws that has people looking the wrong way, when they don't like it.
If every homeowner has a tax break, then why single out the Boomers? If the tax break is based on age, then why are the younger folks so shortsightedly stupid, to not realize it will benefit them too one day?
All tax fights are between the Citizens and the Government, it either takes a special kind of stupid tax base to make it about those fitting through loopholes and benefiting from them. It takes a diabolical Government that can make tax laws that has people looking the wrong way, when they don't like it.
187
WookieMan
2023 Jul 4, 7:11am
WookieMan
2023 Jul 4, 7:11am
Tenpoundbass says
Eh, most boomer pay ZERO taxes. 2 main reasons.
One being pensions. https://www.brookings.edu/articles/public-service-and-the-federal-government/ You have 15% of the population working for the FEDERAL government. That doesn't include the likes of teachers, fire fighters, cops, etc. on the local level. 30% of the Boomer probably have government jobs and pay no taxes on their pension.
Two being the ones still working are likely working at Target or Home Depot making $35-40k and supplementing life with SS. Likely not paying taxes. That's probably another 30-40% of the boomers.
So you're left with 30% of Boomers paying taxes. Of those most of that is business and the kids are running it. Boomers don't pay taxes for the most part besides a select few.
I don't like generational arguments. Rich is right and the Boomers fucking up a lot. I wasn't able to vote until 2004 for a POTUS election. I didn't vote. Voted Obama in 2008, but in hindsight it wasn't even a better of two evils vote. It was evil or evil. Same in 2012, but I voted for Romney that time. Voted Trump the last two.
Fact is the Boomers have been in charge of the country for the last 3-4 decades. They are the leadership. It hasn't been good. That's undeniable. Fact is we need age limits on the top end in government. Does anyone think Joe Biden is functioning? John McCain? Bobby Rush? Check this out: https://www.youtube.com/watch?v=ymnSRJmHsTc House rep for one of the most violent areas in Chicagoland. Boomer. Their mental acuity is going. 3 decades of this fool and he couldn't clean up his part of Chicago.
While advancements have been made over the last 3 decades, most of it was from kids graduating in the mid 90's to 2010. Like or hate Apple, Steve Jobs didn't make the iPhone. It was 30-40 year old engineers at the time. Even the idea wasn't Jobs'. Meanwhile the war mongering Boomers were keeping wars going for 20 years.... that made ZERO difference to 99% of Americans.
Every generation and demographic has their faults. I could keep going but this is already a long comment. I'm old enough to remember 70 years olds when they were 50. They're not remotely the same mentally. It's a stark transition and we'll all have to go through it at some point. They shouldn't be "leading" though.
Tell the California Legislators to ease up on oppressive taxes, and trim down big government
Or
Blame everything on Boomers, and make every problem in California about a Property tax law.
hmmmmmm Tough Choice tough choice! We do like to bitch about old people, and well those taxes aren't going to pay themselves!
Eh, most boomer pay ZERO taxes. 2 main reasons.
One being pensions. https://www.brookings.edu/articles/public-service-and-the-federal-government/ You have 15% of the population working for the FEDERAL government. That doesn't include the likes of teachers, fire fighters, cops, etc. on the local level. 30% of the Boomer probably have government jobs and pay no taxes on their pension.
Two being the ones still working are likely working at Target or Home Depot making $35-40k and supplementing life with SS. Likely not paying taxes. That's probably another 30-40% of the boomers.
So you're left with 30% of Boomers paying taxes. Of those most of that is business and the kids are running it. Boomers don't pay taxes for the most part besides a select few.
I don't like generational arguments. Rich is right and the Boomers fucking up a lot. I wasn't able to vote until 2004 for a POTUS election. I didn't vote. Voted Obama in 2008, but in hindsight it wasn't even a better of two evils vote. It was evil or evil. Same in 2012, but I voted for Romney that time. Voted Trump the last two.
Fact is the Boomers have been in charge of the country for the last 3-4 decades. They are the leadership. It hasn't been good. That's undeniable. Fact is we need age limits on the top end in government. Does anyone think Joe Biden is functioning? John McCain? Bobby Rush? Check this out: https://www.youtube.com/watch?v=ymnSRJmHsTc House rep for one of the most violent areas in Chicagoland. Boomer. Their mental acuity is going. 3 decades of this fool and he couldn't clean up his part of Chicago.
While advancements have been made over the last 3 decades, most of it was from kids graduating in the mid 90's to 2010. Like or hate Apple, Steve Jobs didn't make the iPhone. It was 30-40 year old engineers at the time. Even the idea wasn't Jobs'. Meanwhile the war mongering Boomers were keeping wars going for 20 years.... that made ZERO difference to 99% of Americans.
Every generation and demographic has their faults. I could keep going but this is already a long comment. I'm old enough to remember 70 years olds when they were 50. They're not remotely the same mentally. It's a stark transition and we'll all have to go through it at some point. They shouldn't be "leading" though.
188
stereotomy
2023 Jul 4, 7:40am
stereotomy
2023 Jul 4, 7:40am
richwicks says
Hard times make hard men. Hard men make good times. Good times make weak men. Weak men make hard times. Lather, rinse and repeat.
This is the generation that "won't get fooled again" that got fooled again over and over and over again. 7 times in just 20 years.
They saw the Pentagon papers, they knew the Gulf of Tonkin Incident was faked, but the insist every fucking war from 1980 onward was justified. The watched the Church Committee hearings, that was in 1975. I was 4 then, and I know about them. That had Operation Mockingbird revealed in it, it revealed the existence of MKUltra, Project SHAMROCK, and COINTELPRO. Our government has been doing surveillance on the population since the 1960's.
Hard times make hard men. Hard men make good times. Good times make weak men. Weak men make hard times. Lather, rinse and repeat.
189
GNL
2023 Jul 4, 7:52am
GNL
2023 Jul 4, 7:52am
richwicks says
IMO, if/when there is a revolution, the targets will include anyone who is rich. Rich being different to each person but generally people who have more than most. This is human nature. My wife and I watched a movie called "First they killed my father". It was a movie about Cambodia and the Khmer Rouge. In my estimation, Pol Pot did not like the gap between the haves and the have nots. Simple as that.
GNL says
I think there is a plan and the plan is to reduce all consumption. Only the higher classes will own (eventually) RE. This is my generational opinion.
What part of You'll Own Nothing and Be Happy don't you people understand?
Eventually people will start demanding higher taxation on single family homes. If you don't think Prop 13 in California will be over-turned, guess again. Basically, the boomer generation sold the young generation into slavery and they will have to actually overthrow the government to correct it, that's why they are so pressed to be indoctrinated.
IMO, if/when there is a revolution, the targets will include anyone who is rich. Rich being different to each person but generally people who have more than most. This is human nature. My wife and I watched a movie called "First they killed my father". It was a movie about Cambodia and the Khmer Rouge. In my estimation, Pol Pot did not like the gap between the haves and the have nots. Simple as that.
190
GNL
2023 Jul 4, 8:02am
GNL
2023 Jul 4, 8:02am
Bitcoiner says
I'm happy for you. BUT, it's people like you that really don't get it. People like you could easily become targets. Especially since all you do is run around beating your chest.
GNL,
“IMO, if/when that is a revolution, the targets will include anyone who is rich.”
If we could wait with the revolution until 50 years from now…..I’d appreciate it. I am working on growing my rental investment business and trying to get into the vacation rental market. A revolution sounds disruptive.
I'm happy for you. BUT, it's people like you that really don't get it. People like you could easily become targets. Especially since all you do is run around beating your chest.
191
just_passing_through
2023 Jul 4, 8:05am
just_passing_through
2023 Jul 4, 8:05am
GNL says
That's why I drive a beat up 21 year old car. I'll be buying a newer one soon but plan to keep this on up on blocks in my front yard for use when cannibal anarchy breaks out.
I'm happy for you. BUT, it's people like you that really don't get it. People like you could easily become targets. Especially since all you do is run around beating your chest.
That's why I drive a beat up 21 year old car. I'll be buying a newer one soon but plan to keep this on up on blocks in my front yard for use when cannibal anarchy breaks out.
193
just_passing_through
2023 Jul 4, 8:19am
just_passing_through
2023 Jul 4, 8:19am
Bitcoiner says
That is my buddy's plan. He's senior at Dr. Horton and is looking for ~50 acres which are a minimum 2 hour drive from our city to build a fortress soon.
I'm just going to dig and shoot out of holes.
One way is to sit behind my 50 cal in my multi-million fortress mowing down the attackers.
That is my buddy's plan. He's senior at Dr. Horton and is looking for ~50 acres which are a minimum 2 hour drive from our city to build a fortress soon.
I'm just going to dig and shoot out of holes.
194
GNL
2023 Jul 4, 9:46am
GNL
2023 Jul 4, 9:46am
just_passing_through says
Perfectly logical thinking. If it gets worse, I could see people taking their anger out on anyone they think is rich. Corporate landlords are hard to identify. Private landlords not so much.
GNL says
I'm happy for you. BUT, it's people like you that really don't get it. People like you could easily become targets. Especially since all you do is run around beating your chest.
That's why I drive a beat up 21 year old car. I'll be buying a newer one soon but plan to keep this on up on blocks in my front yard for use when cannibal anarchy breaks out.
Perfectly logical thinking. If it gets worse, I could see people taking their anger out on anyone they think is rich. Corporate landlords are hard to identify. Private landlords not so much.
195
GNL
2023 Jul 4, 9:47am
GNL
2023 Jul 4, 9:47am
Bitcoiner says
Could you defend against a Pol Pot?
One way is to sit behind my 50 cal in my multi-million fortress mowing down the attackers.
Could you defend against a Pol Pot?
196
just_passing_through
2023 Jul 4, 9:49am
just_passing_through
2023 Jul 4, 9:49am
GNL says
I've got a former blackwater assassin as a tenant. He's been there 7 years now.
Perfectly logical thinking. If it gets worse, I could see people taking their anger out on anyone they think is rich. Corporate landlords are hard to identify. Private landlords not so much.
I've got a former blackwater assassin as a tenant. He's been there 7 years now.
197
zzyzzx
2023 Jul 20, 10:10am
zzyzzx
2023 Jul 20, 10:10am
https://www.reddit.com/r/REBubble/comments/1544v3k/just_doing_my_part/
I got bored earlier today and decided to look up AirBnbs in my area and noticed that just about a half mile from my home, a listing showed up on AirBnb. I clicked through the images and sure enough, the listing was a 2/2 in an apartment community. I took it upon myself to contact the main office and asked if they allow short term rentals such as AirBnb and they indicated that they didn't. As a concerned citizen, I told them that there was one such listing in their community which for 7 days, goes for around $1,600. I gave her me email address and sent her the links and they were grateful for having this information.
Digging a little further, it's actually an LLC that has 20 other listings throughout the US and Mexico, 2 of which are in my town.
I got bored earlier today and decided to look up AirBnbs in my area and noticed that just about a half mile from my home, a listing showed up on AirBnb. I clicked through the images and sure enough, the listing was a 2/2 in an apartment community. I took it upon myself to contact the main office and asked if they allow short term rentals such as AirBnb and they indicated that they didn't. As a concerned citizen, I told them that there was one such listing in their community which for 7 days, goes for around $1,600. I gave her me email address and sent her the links and they were grateful for having this information.
Digging a little further, it's actually an LLC that has 20 other listings throughout the US and Mexico, 2 of which are in my town.
198
WookieMan
2023 Jul 20, 6:45pm
WookieMan
2023 Jul 20, 6:45pm
Who cares? If people can make money off homes they own what does it matter? Fact is no one wants to actually live in a vacation rental area full time. The population is transient and unpredictable. No community. I'll snow bird it up from the midwest to the south, I don't think I could do more that 3-5 months in tourist locations. Maybe the Caribbean, because no one goes there because it's more expensive. Bahamas and T&C it's a bunch of Florida yuppies. If you know South Haven, MI it's the same thing with the Chicago yuppies in the summer. And it's gay. Lake Geneva in WI is also gay.
Ugh. Might be spending 3 nights in Bloomington, IL (Peoria). Solo time, but god damn it's the most boring place ever. A quality meal is Buffalo Wild Wings.....Maybe I'll find a good dive bar. Or hit up Big Al's. Family free trip so I can do what I want. I might strip club it up.
Ugh. Might be spending 3 nights in Bloomington, IL (Peoria). Solo time, but god damn it's the most boring place ever. A quality meal is Buffalo Wild Wings.....Maybe I'll find a good dive bar. Or hit up Big Al's. Family free trip so I can do what I want. I might strip club it up.
199
zzyzzx
2023 Jul 24, 9:32am
zzyzzx
2023 Jul 24, 9:32am
AirBNB is like Subway: its in their interest to have as many money losing hosts/ franchises as possible. They make money on revenue, not host/franchisee profit.
200
zzyzzx
2023 Jul 24, 11:50am
zzyzzx
2023 Jul 24, 11:50am
https://skift.com/2023/07/21/short-term-rental-saturation-leads-to-a-correction-and-lots-of-home-sales/
The numbers were headier in 2021 — in March, sales in Garrett were up 71%, and average prices rose to $567,688.
Anyone who pays that much for a house in that part of Maryland is a total moron!!!
In April this year, The Sevier County Commission decided to classify short-term rentals, including Airbnb cabins, as commercial properties for tax purposes. subjecting owners to a 40% tax rate instead of the 25% they would have paid if the properties were classified as residential.
The numbers were headier in 2021 — in March, sales in Garrett were up 71%, and average prices rose to $567,688.
Anyone who pays that much for a house in that part of Maryland is a total moron!!!
In April this year, The Sevier County Commission decided to classify short-term rentals, including Airbnb cabins, as commercial properties for tax purposes. subjecting owners to a 40% tax rate instead of the 25% they would have paid if the properties were classified as residential.
202
stereotomy
2023 Jul 24, 2:57pm
stereotomy
2023 Jul 24, 2:57pm
Subway, like Starbucks, ruined the institutions that they coopted. A Subway "sub" is a mockery of the old deli subs. Starbucks overroasts the coffee to hide the fact that it's shit. I yearn for the old New York deli's that gave you a pound of cold cuts in a massive sub. I also lament when I could go to Dunkin' Donuts and get a whole pot of really good, mild roasted coffee for $3.
203
just_passing_through
2023 Jul 26, 8:06pm
just_passing_through
2023 Jul 26, 8:06pm
Okay, I have sort of a trip-report about short term vacation rentals.
1. I've had some cancellations recently (easy to re-fill) due to prices of airlines - first time ever.
2. I used to get on average 1-week stays but it's trending to 3-4 day stays now.
3. I have a 1 bedroom with a sofa couch. Majority of the time I just get singles or couples but sometimes kids. Next month I'm entirely filled with 3-4 people squeezing into that thing.
I still have highest prices ever and nearly every day filled for 3 months in advance, as usual. Although a lot of times I have 4 months filled.
This is VRBO and not AirBnB.
1. I've had some cancellations recently (easy to re-fill) due to prices of airlines - first time ever.
2. I used to get on average 1-week stays but it's trending to 3-4 day stays now.
3. I have a 1 bedroom with a sofa couch. Majority of the time I just get singles or couples but sometimes kids. Next month I'm entirely filled with 3-4 people squeezing into that thing.
I still have highest prices ever and nearly every day filled for 3 months in advance, as usual. Although a lot of times I have 4 months filled.
This is VRBO and not AirBnB.
205
zzyzzx
2023 Jul 28, 7:40am
zzyzzx
2023 Jul 28, 7:40am
gabbar says
Correct. Subways are famous for not making money.
zzyzzx says
AirBNB is like Subway:
Subways don't make money?
Correct. Subways are famous for not making money.
207
just_passing_through
2023 Jul 29, 10:06am
just_passing_through
2023 Jul 29, 10:06am
HeadSet says
It's where a host in a clown suit shows up and supplies two gay midgets for the night.
What, by the hairy dugs of Minerva, is a "Host fee?"
It's where a host in a clown suit shows up and supplies two gay midgets for the night.
209
zzyzzx
2023 Aug 2, 9:02am
zzyzzx
2023 Aug 2, 9:02am
People who own Airbnb’s, has revenue gone down?
https://www.reddit.com/r/realestateinvesting/comments/15ewmfj/people_who_own_airbnbs_has_revenue_gone_down/
https://www.reddit.com/r/realestateinvesting/comments/15ewmfj/people_who_own_airbnbs_has_revenue_gone_down/
211
AD
2023 Aug 12, 11:00am
AD
2023 Aug 12, 11:00am
zzyzzx says
Should have a warning on AirBnb such as recommending that you bring at least a 9 mm handgun during your stay, and also a notice that the home has ADT or similar home security system.
The AirBnB advertisement should also have instructions that if you should hear loud noise such as what sounds like gunfire, that you should immediately drop to the floor until about 30 seconds after the sounds has stopped.
That is the minimum standard as far as public service announcement for an AirBnB like this.
,
https://www.reddit.com/r/REBubble/comments/15fgz90/airbnb_in_a_bad_neighborhood_what_could_go_wrong/
Should have a warning on AirBnb such as recommending that you bring at least a 9 mm handgun during your stay, and also a notice that the home has ADT or similar home security system.
The AirBnB advertisement should also have instructions that if you should hear loud noise such as what sounds like gunfire, that you should immediately drop to the floor until about 30 seconds after the sounds has stopped.
That is the minimum standard as far as public service announcement for an AirBnB like this.
,
212
zzyzzx
2023 Sep 7, 9:11am
zzyzzx
2023 Sep 7, 9:11am
https://www.curbed.com/2023/09/airbnb-host-meltdown-new-york-september-regulations.html
Airbnb Hosts Are Feeling Abandoned
New York City’s Airbnb hosts were having a hard summer. “I talked to Airbnb suppor,t and they don’t know how to go about this,” one host wrote on a private forum. “Be careful,” another warned. “After 30 days guests become tenants … hard to kick them out.” Following an extensive period of limbo and legal challenges, the city was gearing up to enforce regulations that would, at least in theory, take thousands of rentals off the platform by requiring hosts to register their properties through a new licensing system and prohibiting them from renting out apartments for fewer than 30 days unless they were staying in the home alongside their guests. A decade of unfettered growth had made hosting something between a lucrative side hustle and a full-time job for thousands of people in the city, but life as the hosts knew it was ending on September 5. “I’m petrified,” one wrote.
Where other, less lucrative gig-economy start-ups like Uber have clashed publicly with their not-quite-employees, Airbnb hosts — the word the company came up with to make short-term landlordism sound like throwing an intimate dinner party — have become loyal political allies. In a marathon seven-hour public meeting in January, hundreds of them slammed the Office of Special Enforcement for abandoning “working-class New Yorkers” who would struggle to pay their mortgages without the cash infusion Airbnb brought in. In language that perfectly mirrored the company’s own campaign against the regulations, hosts described skyrocketing taxes and utility bills, framing their Airbnbs as an economic boom for the city, inviting tourism dollars to their neighborhoods and infusing local businesses with cash. “My assets are bound up in my house and I have very little cash flow,” a host wrote on the city’s public comment forum. “Being able to occasionally Airbnb my home has enabled me to make my mortgage payments.” In public, hosts described Airbnb as a form of public assistance or a godsend second gig. But on private forums, the relationship between platform and third-party contractor revealed itself as a bit more strained: They had fought for Airbnb. Why wasn’t Airbnb fighting for them?
Cracks in the host model first started to show in March 2020, when the company overrode hosts’ cancellation policies and offered full refunds to guests who chose not to travel during a global pandemic. Hosts who had built their lives on the service realized Airbnb was not, in fact, a job. In news outlets, they described being unable to pay mortgages and property taxes when nearly all of their reservations dried up. “We definitely empathize with guests,” said one, “but for us, our business and our livelihood just got canceled.” The sense of abandonment was compounded when the company announced a $250 million coronavirus relief fund for hosts shortly after, paying what many said were paltry sums given how much income they had lost.
The dynamic took a turn for the worse in the face of the city’s September deadline on regulations that many hosts considered to be an existential threat to their way of life. They were flailing and the company didn’t seem to know much more than they did. On forums, they swap tips on generating contracts for longer-term rentals and “squatters insurance” for legal fees should a 30-day rental turn into an eviction proceeding. Some are dropping their prices 20 to 30 percent to render a monthlong stay affordable; others are looking into ways to charge half of a monthly fee up front, a function Airbnb doesn’t currently afford. And they’re still confused about how to apply for a license or handle bookings made far into the future for short-term stays, stays that are still showing up on Airbnb. “I have contacted support so many times,” wrote one. “I’m distraught.”
Airbnb and its hosts rely on each other to prop up their businesses, and Airbnb works hard to sustain these quasi-partnerships: Since 2014, the Superhost program has rewarded particularly responsive hosts and popular listings with a badge (which, according to the company, comes with significantly more earnings), while a Superhost Ambassador program pairs new hosts with mentees to help them bring their listings live. Airbnb sends photographers to help promote rentals and insures hosts for up to $1 million should a guest damage their home. In web seminars, employees coach potential users on how to launch their small business, reminding them to purchase enough towels and highlight what makes their space unique. “Airbnb has brought the world to me,” an elderly man says in a promotional video shown to potential hosts during an informational Zoom, the camera panning over him and his wife sipping coffee with a few Australian backpackers on their deck.
But it isn’t an exchange between equals. In what would become a telling incident, two companion lawsuits were struck down in their last-minute efforts to block the new law. In one suit, three New York City hosts argued the regulations would financially ruin them and force them “to take drastic action to make ends meet,” including moving out of their homes and returning to work from retirement. In the suit brought by Airbnb, the company argued the regulation constituted a “de facto” ban against short-term rentals and would make it impossible for hosts to do business. Ultimately, the judge ruled that “Airbnb cannot bring a challenge on behalf of hosts (third parties who are not employees of Airbnb). It does not claim that it is acting as an agent for hosts or as some type of broker for these individuals,” the judge wrote. The platform was merely a forum for listings, she said, and thus had no legal right to make an argument on behalf of the people who paid their mortgages using Airbnb.
The legal argument gets to the crux of Airbnb’s issue: Following a decade of cultivating a loyal community of Superhosts under the fiction of something like equal standing — they were the platform, after all — Airbnb remains just a website. And hosts remain very much on their own, a fact that many are coming to realize in stark terms. “We’re not gonna put our unit on the market,” one Airbnb host told Gothamist. “We’re gonna have to figure something else out. Some people are saying they’re going to have to leave New York.”
Airbnb Hosts Are Feeling Abandoned
New York City’s Airbnb hosts were having a hard summer. “I talked to Airbnb suppor,t and they don’t know how to go about this,” one host wrote on a private forum. “Be careful,” another warned. “After 30 days guests become tenants … hard to kick them out.” Following an extensive period of limbo and legal challenges, the city was gearing up to enforce regulations that would, at least in theory, take thousands of rentals off the platform by requiring hosts to register their properties through a new licensing system and prohibiting them from renting out apartments for fewer than 30 days unless they were staying in the home alongside their guests. A decade of unfettered growth had made hosting something between a lucrative side hustle and a full-time job for thousands of people in the city, but life as the hosts knew it was ending on September 5. “I’m petrified,” one wrote.
Where other, less lucrative gig-economy start-ups like Uber have clashed publicly with their not-quite-employees, Airbnb hosts — the word the company came up with to make short-term landlordism sound like throwing an intimate dinner party — have become loyal political allies. In a marathon seven-hour public meeting in January, hundreds of them slammed the Office of Special Enforcement for abandoning “working-class New Yorkers” who would struggle to pay their mortgages without the cash infusion Airbnb brought in. In language that perfectly mirrored the company’s own campaign against the regulations, hosts described skyrocketing taxes and utility bills, framing their Airbnbs as an economic boom for the city, inviting tourism dollars to their neighborhoods and infusing local businesses with cash. “My assets are bound up in my house and I have very little cash flow,” a host wrote on the city’s public comment forum. “Being able to occasionally Airbnb my home has enabled me to make my mortgage payments.” In public, hosts described Airbnb as a form of public assistance or a godsend second gig. But on private forums, the relationship between platform and third-party contractor revealed itself as a bit more strained: They had fought for Airbnb. Why wasn’t Airbnb fighting for them?
Cracks in the host model first started to show in March 2020, when the company overrode hosts’ cancellation policies and offered full refunds to guests who chose not to travel during a global pandemic. Hosts who had built their lives on the service realized Airbnb was not, in fact, a job. In news outlets, they described being unable to pay mortgages and property taxes when nearly all of their reservations dried up. “We definitely empathize with guests,” said one, “but for us, our business and our livelihood just got canceled.” The sense of abandonment was compounded when the company announced a $250 million coronavirus relief fund for hosts shortly after, paying what many said were paltry sums given how much income they had lost.
The dynamic took a turn for the worse in the face of the city’s September deadline on regulations that many hosts considered to be an existential threat to their way of life. They were flailing and the company didn’t seem to know much more than they did. On forums, they swap tips on generating contracts for longer-term rentals and “squatters insurance” for legal fees should a 30-day rental turn into an eviction proceeding. Some are dropping their prices 20 to 30 percent to render a monthlong stay affordable; others are looking into ways to charge half of a monthly fee up front, a function Airbnb doesn’t currently afford. And they’re still confused about how to apply for a license or handle bookings made far into the future for short-term stays, stays that are still showing up on Airbnb. “I have contacted support so many times,” wrote one. “I’m distraught.”
Airbnb and its hosts rely on each other to prop up their businesses, and Airbnb works hard to sustain these quasi-partnerships: Since 2014, the Superhost program has rewarded particularly responsive hosts and popular listings with a badge (which, according to the company, comes with significantly more earnings), while a Superhost Ambassador program pairs new hosts with mentees to help them bring their listings live. Airbnb sends photographers to help promote rentals and insures hosts for up to $1 million should a guest damage their home. In web seminars, employees coach potential users on how to launch their small business, reminding them to purchase enough towels and highlight what makes their space unique. “Airbnb has brought the world to me,” an elderly man says in a promotional video shown to potential hosts during an informational Zoom, the camera panning over him and his wife sipping coffee with a few Australian backpackers on their deck.
But it isn’t an exchange between equals. In what would become a telling incident, two companion lawsuits were struck down in their last-minute efforts to block the new law. In one suit, three New York City hosts argued the regulations would financially ruin them and force them “to take drastic action to make ends meet,” including moving out of their homes and returning to work from retirement. In the suit brought by Airbnb, the company argued the regulation constituted a “de facto” ban against short-term rentals and would make it impossible for hosts to do business. Ultimately, the judge ruled that “Airbnb cannot bring a challenge on behalf of hosts (third parties who are not employees of Airbnb). It does not claim that it is acting as an agent for hosts or as some type of broker for these individuals,” the judge wrote. The platform was merely a forum for listings, she said, and thus had no legal right to make an argument on behalf of the people who paid their mortgages using Airbnb.
The legal argument gets to the crux of Airbnb’s issue: Following a decade of cultivating a loyal community of Superhosts under the fiction of something like equal standing — they were the platform, after all — Airbnb remains just a website. And hosts remain very much on their own, a fact that many are coming to realize in stark terms. “We’re not gonna put our unit on the market,” one Airbnb host told Gothamist. “We’re gonna have to figure something else out. Some people are saying they’re going to have to leave New York.”
213
zzyzzx
2023 Sep 13, 12:28pm
zzyzzx
2023 Sep 13, 12:28pm
https://finance.yahoo.com/news/airbnb-lead-real-estate-market-180212436.html
Airbnb To Lead Real Estate Market Crash
Airbnb To Lead Real Estate Market Crash
214
GNL
2023 Sep 13, 12:59pm
GNL
2023 Sep 13, 12:59pm
Maybe this is a good time for an airbnb competitor to rise to the challenge.
216
AD
2023 Sep 13, 2:01pm
AD
2023 Sep 13, 2:01pm
zzyzzx says
That Yahoo Finance article is referencing Robert Kiyosaki. He always pumps up silver, but that commodity is rigged. I rather hold a total stock market index fund as far as hedge against inflation than silver.
I don't know the current state of market for vacation rentals through AirBnB, VRBO, Vacasa, etc.
You would have to track average and median rates for vacation rentals as well as the amount of vacation rentals per zip code to get an idea of how they fare in regards to cash flow. One gauge I track is bed tax receipts for Bay County, Florida as far as health of vacation rental and hotel market.
.
Airbnb To Lead Real Estate Market Crash
That Yahoo Finance article is referencing Robert Kiyosaki. He always pumps up silver, but that commodity is rigged. I rather hold a total stock market index fund as far as hedge against inflation than silver.
I don't know the current state of market for vacation rentals through AirBnB, VRBO, Vacasa, etc.
You would have to track average and median rates for vacation rentals as well as the amount of vacation rentals per zip code to get an idea of how they fare in regards to cash flow. One gauge I track is bed tax receipts for Bay County, Florida as far as health of vacation rental and hotel market.
.
217
EBGuy
2023 Sep 13, 4:25pm
indc says
Become the WeWork of apartment rentals?
Faux Dude LLC will sign long term lease and sublet to short term renters. What could go wrong?
And do what?
Become the WeWork of apartment rentals?
Faux Dude LLC will sign long term lease and sublet to short term renters. What could go wrong?
218
HeadSet
2023 Sep 13, 6:49pm
HeadSet
2023 Sep 13, 6:49pm
GNL says
Hotels and actual licensed Bed and Breakfasts.
Maybe this is a good time for an airbnb competitor to rise to the challenge.
Hotels and actual licensed Bed and Breakfasts.
219
AD
2023 Sep 13, 7:43pm
AD
2023 Sep 13, 7:43pm
HeadSet says
yeah, use to do two day vacations and stay at Bed and Breakfasts in Virginia wine country like in Middleburg
it was not hard finding them even without using the internet...use to get a tourist guide in the mail that would have a listing of all the B&B by city and would list the rates and phone numbers
a lot of rest stops along the east coast had advertisement flyers for B&B
Hotels and actual licensed Bed and Breakfasts.
yeah, use to do two day vacations and stay at Bed and Breakfasts in Virginia wine country like in Middleburg
it was not hard finding them even without using the internet...use to get a tourist guide in the mail that would have a listing of all the B&B by city and would list the rates and phone numbers
a lot of rest stops along the east coast had advertisement flyers for B&B
« First « Previous Comments 180 - 219 of 269 Next » Last » Search these comments
I'm thinking of doing this in the Shenandoah region in VA, which has very low inventory and lots of short term rentals on the market. I assume that as more and more people do this, the market will saturate. I'm not sure how long that will take, and exactly how that will play out - plenty of thoughts though. In particular, I think if people insist on working from home, the far flung mountain retreat type areas outside of cities will do very well. I'm thinking that people wouldn't commute long distance every day, but might be willing to commute further once or twice a week. So, the high property values in/close to cities will continue to spread outward.