
Bill Comes Due for Overextended Airbnb Hosts - t23
https://www.wsj.com/articles/a-bargain-with-the-devilbill-comes-due-for-overextended-airbnb-hosts-11588083336
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blackrock
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.

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vipa123
Never let public good stand in the way of making a buck.

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duckMuppet
We 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.

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ianmobbs
In what world is having an Airbnb empire, significantly increasing rental
costs for actual residents of the city, morally equivalent to childcare?

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quantified
Bummer for the hosts, but if you leveraged yourself to take housing units off
the market, I can’t sympathize.

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ninju
It's business that comes with risks. Nobody forced them to over extend.

They will struggle and tighten belts but they will survive and hopefully learn
something from it.

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neonate
[https://archive.md/Sgbgx](https://archive.md/Sgbgx)

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fortran77
I have no sympathy for people who entered a risky business and failed and then
complain that it's not fair. I'm sure they weren't accounting and paying taxes
(and commercial mortgage rates) like a real apartment rental business would
be.

