Thursday, December 10, 2020

How soon we forget the past.

Every generation gets the chance of getting beat to a bloody pulp.

Also this.


  1. Here is my problem with airbnb right now. Next month we have 5 million getting kicked out of their apartments. These are people who have already been sued so the eviction is on their record. In 2021 were probably looking at 20 - 30 million evictions or foreclosures. Where would you go if you spent the last 9 months living rent free and then got kicked out? Your credit is toast so youre not going to stay at another rental but you still have this positive airbnb account leftover from when you had a job prepandemic. In CA once you stay over 30 days, its a lot more complicated to kick them out. Airbnb is encouraging long rentals because travel is over for a long long time. Seems to me that the people who are renting out investment properties on the site are about to hit a world of trouble. Since Airbnb has historically been a yo problem type of company i dont see them offering assitance. Meanwhile if you own the place and your tennant has been subletting to airbnb to play renters arbitrage then youre all screwed. If you want to sell with a tenant wont move out problem youre going to have to take a $100k discount minimum plus you are going to be locked into cash buyers only. So we have home prices going up, rents going down and the payoff for being a property investor getting slimmer and slimmer by the hour. Seems to me the risk reward for airbnb is going to look pretty skewed 6 months from now. DF

  2. Oh - go on. This is an angle I hadn't thought of. I actually didn't know that many people had gone through the eviction process. I didn't think you could evict anyone.

    But that IS a genius way to get around being denied a new place to live.

    I hadn't gotten past all of the airbnbs being in forbearance and to have people you can't kick out is so next level.

    Good read. We all so fucked.

  3. Its already started happening but it will get a lot worse. Here is a couple in Fremont who bought right before the pandemic and then found out their home was subletted 200 times.

    The eviction process is so messed up right now that they are not even enforcing evictions on encampments. Once all those homes are vacant and homelessness explodes it will be a squatters paradise. DF

  4. I just watched the video and I have to admit - that is a very confusing circumstance. I'm not sure I fully understand it. But I have too admit my first impression was that this has to be very limited. If I understand right, they are skimming extra rent? Otherwise I don't understand the motivation to sublet. And the original tenant still has all the liabilities for damage. I guess I don't get this.

    Please expand. I'm confused.