Air BnB worried about future.

[Rockheart]

The current pandemic situation has not helped Air BnB as they were all ready swimming in debt.
Also many municipalities are now looking at stopping some of the professional Air BnB operators that have many units in one place.
The original concept was that someone would rent out their place short term while they were out of town.
Now it has turned into a situation where some people rent out dozens of properties that they lease just for this purpose.
Many of those people will be out of business now due to no income but many leases.
In my city many apartment buildings have become Air BnB hotels.

https://www.wired.co.uk/article/airb...navirus-losses

[Rattmaster]

That's how the world works. People will always take advantage of a good idea, and then it get ruined. That's what greed and money will do. I have a friend that owns a condo in Bangkok, and he leases out his place for 6 months at a time. He hardly ever uses the place himself, and he lives in a different place. It's good money for not having to do anything.

[Rockheart]

Hopefully I will be able to rent my condo in Canada after this is all over.
If I am able to spend more time abroad and Thailand, it would really help the budget.
Unfortunately you need special insurance that is expensive. It is probably expensive because of all corporate rentals.

[P&G]

That's how the world works. People will always take advantage of a good idea, and then it get ruined. That's what greed and money will do. I have a friend that owns a condo in Bangkok, and he leases out his place for 6 months at a time. He hardly ever uses the place himself, and he lives in a different place. It's good money for not having to do anything.

Exact. In Paris, the municipality had to regulate the business. It's a good point to rent a condo while traveling for your holidays but investors understood they could rent housing at hotels prices. Another negative effect is that all kind of escort GGs and trans use BnB for their business. They don't care how expensive the price is since they add it in the price of p4p. Covid19 also blew up this financial bubble.

[Rockheart]

Yeah. With any luck my condo will be more in demand after if it is reduced to actual home owners on the market.
That article says that the short term monthly market will take off. The rent isn't as high but it is more stable than day by day or week by week.

[bernipes]

if the companies can't rent theses places by Air B&B for theirs business, i can easily imagine they will want to sell all of them ?! if there is too much, what do you think about a real estate market crisis?!

[P&G]

It might be interesting. Better purchase when prices are down and wait for high prices to re sell.

[Rockheart]

I don't think real estate will drop much this is not a mortgage crisis.
Interest rates are so low so that will help increase demand some.

In times of crisis like this people like to invest more in tangible assets like gold and property.
So any drop in value may be offset by higher demand.

Real Estate seldom crashes, it mostly always goes up.
At worst there is a dip in housing prices.
Unusual events that happen in different regions that temporarily crash real estate prices there but over all it is pretty stable.

[P&G]

It depends on countries. Here, it seldom drops. It would just wait till it can go up again. Anyway, when no one wants to purchase at offered prices, there might be good investments to do in auctions or purchasing from heirs who don't want to manage properties and want to get rid of them.