yeah, the bottom is gonna fall out of that market when the banks tighten up the screws on them all. governments are rushing in to claim more taxes on it as well.
the informal short to medium term rentals with no contract are a thing that i've been finding via searching classified ad sites the last few years, and have been far better value and huge GFY at the system.
💯
Governments will scapegoat the shit out of AirBnB. Already happening where I live, they put a 7% tax on bookings and are blaming them for a rental crisis (vacancy rate of 1.1%) whilst they hold 1.4% of housing supply and the country is importing immigrants at a rate 3X higher than pre Covid.
I don’t feel sorry for the AirBnBers though, they thought the gravy train would never end and never even considered the risk that they’d be targeted by governments when they needed an excuse and tax revenues.
anyone who is getting a good profit not introducing a radically new product should be suspicious that at some point a rugpull is coming. but then, most people don't understand the taxation/banking collusion.
