By Automan Empire
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2020 Apr 29, 6:39pm
284 views 9 comments
Didn't read it, but not surprising. The run up in prices in the nicer areas was accelerated by the income stream. I know someone personally who was thrilled at all the "bank" they were making from AirBNB and then had her plans crushed when her HOA forbade short term rentals in her neighborhood. I can only imagine people in La Jolla, or MIssion and San Diego Bay areas and beaches are hating life right now. I can show you lists and lists of high end houses in San Diego with 400+ days on market and some of them with 150K price reductions. This had nothing to do with Covid in these cases, they were local laws and complaints, BUT, it is obvious that Covid is spreading that hardship throughout the real estate sector.
HOA forbade short term rentals in her neighborhood
a repost of this
Those HOA's may have well been told by their insurance broker that the AirBnB units would have forced the condominium to shoulder a completely new insurance classification and commensurately greater costs with the properties being labelled hotels or SROs. AirBnB wants you to believe the whole deal is unlimited free money forever at no new cost to the owner or leasee or anyone. It's just gushing money you can use to buy more slums in 'transitioning' neighborhoods and create more vacation rentals to gush more money until you can build rocket ships to buy Mars and cover it with trailers to rent to itinerant aliens, etc. The fact is the insurance industry is going to shut the AirBnB cunts down more permanently than CV19 because a property with low-rent, desperate vacationers and itinerant 'business people' who can't afford to stay at the fucking Holiday Inn Express are a risk vector that home owner insurance underwriters aren't going to just accept because a couple of assho...