December 9, 2017

Mommy, Why Is That Stranger Puking In The Bushes?

A weekend topic starting with the OB Rag in California. “Editor’s Note: The following is an interview with an fictitious Airbnb host. I’m sitting down with an Airbnb host to discuss the dollars and sense of short term vacation rentals (STVRs). These have been a hotly debated issue in San Diego, and our 9 city councilmembers are gearing up for a vote on December 12th on how to regulate it. Q: What’s to stop you from just buying and converting more properties?”

“A: Well I have a day job, this is just a side thing. It’s easy work though. Without a doubt I could do this full time and make a killing. The income covers a new mortgage right off the bat. I’d just buy more properties until it reaches saturation, if there is such a thing. Is Mission Beach saturated? Airbnb even asked me to host other people’s properties for them. The state of limbo at the city is probably the only thing really keeping more investors on the sidelines.”

“Q: You don’t seem like a fan… A: Well I guess I see both sides of it. I have them on 3 sides of my place now and another 2 doors up. The guy behind me is running one out of his garage, the one next door has one in his granny flat. I don’t even know if that’s legal. I mean it’s not a nuisance really, most of the guests are quiet. They’re terrible at parking. But mostly it’s just unsettling to play Mr. Rogers with a different neighbor every few days. I’ve had them come knocking on my door late at night because they can’t find the rental next door. The shear quantity of them is getting out of hand in my neighborhood and I don’t know where it ends.”

From Voices of Monterey Bay in California. “It’s all a-clash when tossed into the housing blender: short-term rentals and the local rental market and Airbnb and property rights and neighborhood tranquility and making a quick buck and vacation rentals and the cool new gig economy and community standards and surviving in this day and age and affordable housing and mommy, why is that stranger puking in the bushes at the house next door?”

“Jenny McAdams, a vocal opponent to the city’s policy, says she supports owner-occupied short-term rentals. But she contends the city is inept at managing the program and that more than 80 percent of the homes being rented to vacationers live outside Pacific Grove. McAdams has spent considerable time in research on the issue of vacation rentals in Pacific Grove. She’s developed a spreadsheet identifying each of the homes used for legal short-term rentals in the city. The database seems to show that most of the vacation rental owners live elsewhere.”

“‘To me the numbers say the City of Pacific Grove is a bunch of suckers,’ McAdams said. ‘Clearly investment groups and out of town investors are swooping up our neighborhoods, laughing their way to the bank, and throwing their TOT crumbs to the city.’”

From CBS Local 2 in California. “The Palm Desert City Council has voted to phase out short term rentals in single family neighborhoods with R1 and R2 designations by Dec. 31, 2019. The vote came after a marathon of public comment, council discussion and failed motions.”

“Both sides made arguments that home values in the city would drop if the opposition has regulations go their way. ‘They cannot sell their home because a serious buyer will not buy a home if they know that a short-term rental is nearby,’ said Christel Prokay, founder of Protect Palm Desert Neighborhoods Group. ‘The values will decline. I think that the short term rentals are essential to the concept of the city and the economic viability of the city,’ said Lesley Miller a short-term rental owner.”

From The Tennessean. “Airbnb has created a multibillion-dollar business by bending, circumventing, or even breaking the existing laws on transient housing in many communities. Their objective has been to blur the lines between transient and long-term housing. This has allowed Airbnb to create housing for tourists, without having to invest in real estate or management costs. It gives them a competitive advantage against the traditional lodging industry. In the process, they have made housing less available and less affordable in many cities across not only the United States, but the world.”

“We don’t allow other commercial businesses to operate in our residential neighborhoods. We don’t allow recording studios, beauty parlors, lawyers offices, massage therapists, or any similar business to operate in our residential neighborhoods. So why ‘mini-hotels’?”

From the CTV Toronto in Canada. “Politicians in Toronto will be scrutinizing proposed rules for short-term rentals this week that could spell major changes for those who offer secondary residences for rent on platforms like Airbnb. Among the raft of regulations going before city councillors is a rule that would ban short-term rentals of homes that aren’t the landlord’s primary dwelling.”

“Fairbnb, a coalition founded by a Toronto-area hospitality workers’ union to advocate for Airbnb legislation, says city hall must ensure that rental units are preserved for long-term renters, not vacation rentals. ‘We have no problem with the typical Airbnb host,” spokesman Thorben Wieditz said. “We have a problem with those people that lease or buy properties as investments and turn them into ‘ghost hotels.’”

“Ajay Joshi, who hosts five Toronto condo units on Airbnb, said the proposed regulations would create more business for hotels because fewer Airbnbs would be available, while causing financial hardship for short-term rental landlords like him. ‘Many people have made legal investments in buildings (that allow) short term rentals,’ said Joshi. ‘Their livelihood is at stake, along with heavy investments in down-payments, paid land transfer taxes and furnishings.’”




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83 Comments »

Comment by Ben Jones
2017-12-09 08:24:36

‘The following is an interview with an fictitious Airbnb host.’

In the article they have fictitious slashed through.

‘Tokyo condos shut doors on Airbnb and other vacation rental businesses’

 
Comment by Ben Jones
2017-12-09 08:26:23

‘We don’t allow other commercial businesses to operate in our residential neighborhoods. We don’t allow recording studios, beauty parlors, lawyers offices, massage therapists, or any similar business to operate in our residential neighborhoods. So why ‘mini-hotels’?’

This article mentions airbnb “lobbyists”. Do illegal brothels have lobbyists? Don’t lobbyists go around bribing politicians?

Comment by BlackSwandive
2017-12-09 15:57:13

“Lobbyists” are the biggest issue with our entire system, bar none. Until something is done about this, nothing will ever change. Included would be campaign finance reform where said lobbyists line pockets.

Comment by Neuromance
2017-12-09 16:55:44

On bribery:

So, politicians are dealmakers. They make deals to get what they want. They give, they get, they compromise. Lobbyist comes in says ‘We can benefit you in these ways if you vote the way we want.’ Money is certainly a way the politician can benefit. In addition to private jet vacations and wining and dining.

Now, it’s still illegal to give direct payments to politicians. But that dividing line is getting smaller and smaller. Now, you can give money to a politician’s shell companies, separated from the pol by a few restrictions. Eventually, that line will become even smaller.

The Supreme Court ruled money is speech. So those with a lot of money have a lot of speech. Dick Durbin said it clearly, years ago: At the end of the day, you have a bunch of messages in your voicemail, you’re going to first those who have donated the most.

Comment by Ben Jones
2017-12-09 17:13:10

I’ve mentioned before I worked on a tax return for a lobby company out of San Antonio. They dealt with the state government in Austin. About seven lawyers and office help. It was amazing to see the revenues and expenses. They got these 1099’s with lots of even numbers and zeros. They expensed lots of fancy cars, food and booze. Gifts. I seem to recall they deducted some campaign monies, but they gave a lot out to politicians. Other than that, I couldn’t see an actual business. No selling, inventory, the usual business related stuff. Very profitable and paid a lot of income tax.

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Comment by Neuromance
2017-12-09 16:57:24

Lobbyists are professional persuaders. They have press releases ready to go, supporting their position, at any given time, and that lets media fill space and draw eyeballs. They convince logically and emotionally. They use all the tools at their disposal to convince.

 
 
 
Comment by Mr. Banker
2017-12-09 08:51:42

Personally I like to implement the “direct approach” in such matters.

Q. Why are these Airbnb in business?

A. So as to make money, natch.

Q. How can one prevent them from making money?

A. One way is to make their expenses to go up through the roof.

Q. So, just how can this be done?

A. Bahahahahahahaha … you should never have to ask such a question.

 
Comment by Professor 🐻
2017-12-09 08:53:37

Yet another reason not to buy in California…

GOP tax bill would end deduction for wildfire and earthquake victims — but not recent hurricane victims
Fire damage
Santa Rosa resident Mark Sharp sifts through the remains of his charred home in search of his wife’s wedding band on Oct. 20. (Luis Sinco / Los Angeles Times)
Jim Puzzanghera, Reporter

The House Republican tax bill would eliminate the deduction for personal losses from wildfires, earthquakes and other natural disasters, but keep the break for victims of the recent severe hurricanes.

Comment by SFMF
2017-12-09 10:05:03

While I am a YUUGELY BIGLY BIG fan of tax cuts, this is just stupid and makes no sense. But since it hurts Californians….bring it on!

Comment by Professor 🐻
2017-12-09 14:08:03

“…it hurts Californians…”

‘Screw California’ seems to be one of the key underlying principles of the Republican tax plan.

Comment by Ol'Bubba
2017-12-09 17:51:54

Or is it Screw Blue?

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Comment by BlackSwandive
2017-12-09 15:58:42

“…I am a YUUGELY BIGLY BIG fan…”

Is this millennial-speak or something?

Comment by Dr. Chim Ritchalds
2017-12-09 20:45:04

>”Is this millennial-speak or something?”

Lol way to fit the “confused boomer” stereotype perfectly

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Comment by BlackSwandive
2017-12-10 12:21:58

Except I’m by no means a boomer. Nice try, though…

 
 
 
 
 
Comment by Mr. Banker
2017-12-09 09:02:40

Bahahahahahahahaha …

Airbnb guests are finding hidden cameras planted in their rentals.

http://www.nola.com/business/index.ssf/2017/12/airbnb_hidden_cameras.html

Gives the term “film at eleven” new meaning.

Comment by Ben Jones
2017-12-09 09:09:09

I see articles like that every day.

‘mommy, why is that stranger puking in the bushes at the house next door?’

Because Billy, even though the city will tell you when to wash your car or cut your grass, when it comes to making shacks more expensive, anything and everything is encouraged. Especially if envelopes full of cash are being handed to politicians.

Comment by Mr. Banker
2017-12-09 09:18:40

“I see articles like that every day.”

Think how, er, interesting all this can become.

1. Sneak into a Airbnb and install a hidden camera in the bedroom.

2. Film a couple of Airbnb tenants having sex and put it on the net.

3. Allow the couple to discover that that they are featured on the net.

4. Pop up a batch of popcorn and sit back and watch what happens next - legal and otherwise - between the tenants and the owner of the Airbnb.

Comment by tresho
2017-12-09 09:33:28

There are other ways to do stuff like that, even more lucrative. Let’s not go there.

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Comment by Mr. Banker
2017-12-09 09:48:01

“Let’s not go there.”

Oh, let’s do indeed go there.

 
 
 
Comment by Mafia Blocks
2017-12-09 10:01:23

“Especially if envelopes full of cash are being handed to politicians.”

I recall a certain someone here started getting real nervous a few years back when it was mentioned that passing brown envelopes is common practice.

“Developers”

What is a “developer”?

 
Comment by jeff
2017-12-09 10:31:32

‘mommy, why is that stranger puking in the bushes at the house next door?’

That Dawg got housed Billy.

 
Comment by BlackSwandive
2017-12-09 16:08:25

That’s why they want you to cut your grass and wash your car, to protect prices. The whole thing’s a sham. Our local assessor sent out a mass mailing to all property owners explaining why the taxes and tax rate were so high. It was nauseating as a whole, but the worst part was when he said to look on the bright side, that even though the rate was high there were other places where taxes were even higher. In other words, it could always be worse. Wow.

 
 
 
Comment by Ben Jones
2017-12-09 09:03:07

‘Both sides made arguments that home values in the city would drop if the opposition has regulations go their way’

The nuclear option when it comes to California:

August 28, 2017

A report from the Los Angeles Times in California. “For decades, the ability to deduct the interest on a home mortgage has been one of the most untouchable sacred cows of the tax code. It is particularly revered in Los Angeles and other areas with high real estate prices, where the annual tax savings can be the difference between being able to afford a house or continuing to rent. Now, Republicans crafting legislation to overhaul the federal tax system and cut rates are considering placing new limits on the home mortgage interest deduction. And thousands of Californians could feel the pain.”

“The move comes as GOP lawmakers and Trump administration officials already have proposed killing another break — the deductibility of state and local taxes — that benefits California residents more than those in any other state. The housing industry strongly opposes efforts to place new restrictions on the deduction, arguing that would lead to lower housing prices because there would be less of a financial incentive to buy instead of rent. At the same time, Democrats from California and other states with high housing prices are gearing up to fight any change.”

“‘I think that harming the ability for Americans to own their home is like attacking motherhood and apple pie,’ said Rep. Judy Chu (D-Monterey Park), whose district includes Pasadena and much of the San Gabriel Valley. ‘I represent a district with homes that are very high-cost, so they have even more reason to be concerned about it,’ Chu said.”

http://thehousingbubbleblog.com/?p=10186

Now let’s get all teary eyed about affordable housing.

Comment by Ben Jones
2017-12-09 09:14:34

Got loaded sentences?

‘For decades…one of the most untouchable sacred cows…particularly revered…the difference between being able to afford a house or continuing to rent’

Horrors!

‘thousands of Californians could feel the pain…the housing industry strongly opposes…arguing that would lead to lower housing prices’

OMG, this is worse than having little Billy watch a stranger puke in the burning bush next door. Thousands would feel the pain! Untouchable sacred cow!!

Comment by tresho
2017-12-09 09:35:08

That sacred California cow - Californians are milking it for all it’s worth. The rest of us should tell them to go take a fork in the road.

 
Comment by In Colorado
2017-12-09 11:01:37

Thousands would feel the pain! Untouchable sacred cow!!

Never forget, some animals are more equal than others.

Comment by Taxpayers
2017-12-09 13:55:55

Ahhh the 2nd most important book published after 1984

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Comment by OneAgainstMany
2017-12-10 11:51:05

Now if CA would scrap prop 13, things would really get interesting. That would be a major sacred cow. The thing is, I could see this happening at some point if localities are cash strapped because they can’t raise taxes because, without the SALT and MID deductions, they hurt too bad.

 
 
 
 
Comment by SFMF
2017-12-09 10:14:27

Californians can gnash their teeth all they want. They have no political power in DC. None. Nada. Zilch. That’s the price you pay for putting all your political eggs in one basket. When the other party is in charge, nobody gives a rat’s azz about anything you have to say.

Comment by Ben Jones
2017-12-09 12:05:32

What’s funny is the biggest reason shack prices fall is getting too high to begin with. We talk about who or what is to “blame” for the housing bubble, but the way so many loanowners have embraced this shouldn’t be overlooked. And it’s not just in California obviously. They have taken it up in Texas too.

Comment by butters
2017-12-09 12:21:47

It’s everywhere…including fly over towns/cities. We have surpassed the 2005/06 level.

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Comment by OneAgainstMany
2017-12-10 11:53:33

In many places, yes. But in many places this is not the case. This article is from 7 month’s ago, but it still shows that some areas are much more bubalicious than others:

Most U.S. Homes Are Worth Less Than Before the Crash

Housing bubble? There are still more losers than winners in this recovery, Trulia says.

https://www.bloomberg.com/news/articles/2017-05-03/most-u-s-homes-are-worth-less-than-before-the-crash

 
Comment by Mafia Blocks
2017-12-10 12:34:15

DebtDonkey

Draper, UT Housing Prices Crater 5% YOY

https://www.zillow.com/draper-ut/home-values/

 
Comment by OneAgainstMany
2017-12-10 12:46:35

Draper is a high-end community. It’s one of the priciest areas in all of Utah. My father lives there. It’s got some of the wealthiest people in the state, and they flaunt their wealth. The luxury homes in corner canyon, by the LDS temple, are absurd.

 
Comment by Mafia Blocks
2017-12-10 15:29:17

….. and prices are falling.

 
Comment by OneAgainstMany
2017-12-10 21:02:01

Not yet, maybe soon though.

 
Comment by Mafia Blocks
2017-12-11 06:51:49

Down 5% and falling. This is a good sign.

 
 
 
 
Comment by Professor 🐻
2017-12-09 14:32:38

What writer neglects to mention is that if tax deductibility ends, making ownership less attractive, home prices will fall to a level buyers ate willing to pay. It’s not like sellers won’t notice the need to lower their prices to attract buyers.

In short, the Republican tax reform is likely to make California housing more affordable… the exact opposite of what the REIC-funded experts are saying in the press

 
 
Comment by Senior Housing Analyst
2017-12-09 09:55:03

Walnut Grove, CA Housing Prices Plunge 29% YOY

https://www.movoto.com/walnut-grove-ca/market-trends/

Comment by Professor 🐻
2017-12-09 14:10:56

Wow! Sounds like Bay Areans are taking it the shorts, big time!

 
 
Comment by SFMF
2017-12-09 10:01:33

The AirBNB thing is awesome. Liberals always eventually end up eating their own. Remember not that long ago how amazing the “sharing economy” was? Liberals was ooohing and ahhing over AirBnb and Uber. Now….both of them are pariahs.

LOL

Comment by Mr. Banker
2017-12-09 10:26:14

“Remember not that long ago how amazing the “sharing economy” was?”

For me the sharing economy is still amazing in that pukes work to earn money and then these pukes willingly share their money with me.

I like it, I love it, I want some more of it.

Comment by oxide
2017-12-10 06:05:20

The original Sharing Economy was about sharing stuff you already had, like the spare room in your own house or the spare time in your own car. These folks are setting up actual BnBs. Basically zoning violations.

Comment by redmondjp
2017-12-10 12:25:11

Exactly.

Buying homes for the express purpose of renting not just the entire home out to a long-term renter, but renting out each room to short-term renters.

What’s that called again, oh yeah I remember now, A HOTEL!!!

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Comment by OneAgainstMany
2017-12-10 12:55:12

A neighbor renting out a room of their house they are concurrently living seems like fine to me. But renting out entire rooms seems problematic for numerous reasons. At the very least, they should pay hotel taxes, and if the neighborhood wants to restrict/ban/regulate it, they should just do that.

Also, I read a story about luxury condos going after AirBnB directly and suing them for allowing units to even be listed when the CC&Rs prohibit against short-term rentals. Apparently this game of whack-a-mole is very difficult and owners can stealthily rent and run afoul of local ordinances quite easily. I think that if a condo building or a city passes a law to restrict that, then AirBnB should be able to comply with the law and restrict an unit belonging to that address from even popping up to be visible in the first place. If the city, municipality, or building informs AirBnB of their “no short-term rental” policy and they continue, then hold AirBnB accountable and sue the pants off of the profits they are squeezing out of local would-be renters.

 
 
 
 
Comment by Ben Jones
2017-12-09 10:28:43

Airbnb has hired former Obama attorney general Eric Holder to join its …
https://www.recode.net/2016/7/20/…/airbnb-hires-eric-holder-discrimination-policy
Jul 20, 2016 - To deal with widespread discrimination on its service, Airbnb has put together a bevy of outside experts to address the issue. The latest name to be added to that list is the biggest one yet: Former Obama administration U.S. Attorney General Eric Holder. In a blog post announcing the news, CEO Brian …

Obama’s staff is taking over Silicon Valley - Aug. 11, 2016 - CNN Money
money.cnn.com/2016/08/11/technology/obama-staff-silicon-valley/index.html
Aug 11, 2016 - Since then, dozens of officials from all parts of the Obama administration have followed in his footsteps, including prominent figures like campaign manager David Plouffe (Uber), Environmental Protection Agency head Lisa Jackson (Apple (AAPL)) and most recently Attorney General Eric Holder (Airbnb).

Airbnb gets Barack Obama and White House OK for Cuba business …
http://www.cityam.com/…/airbnb-gets-barack-obama-and-white-house-ok-for-cuba-busines...
Mar 20, 2016 - Airbnb has been given approval from Barack Obama to fully open up listing to anyone from around the world to stay in one of its holiday rentals in Cuba.

Remarks by President Obama at an Entrepreneurship and Opportunity
https://obamawhitehouse.archives.gov/…/remarks-president-obama-entrepreneurship-...
Mar 21, 2016 - Innovators in business — like Airbnb’s Brian Chesky — are sharing the lessons that they’ve learned.

Obama Brought Silicon Valley to Washington - The New York Times
https://www.nytimes.com/…/barack-obama-brought-silicon-valley-to-washington-is-th...
Oct 25, 2016 - … its cybersecurity efforts hasn’t seemed to dampen their enthusiasm for him. Obama used his ties to the tech sector to foster diplomacy: Last year, he took Brian Chesky, the chief executive of Airbnb, with him to Cuba as an economic endorsement of the revolutionary powers of start-ups to change the world.

Donkey Valley: Obama Alums Run Airbnb Campaign - By - October 7 …
http://www.sfweekly.com/news/donkey-valley-obama-alums-run-airbnb-campaign/amp/
Oct 7, 2015 - Though the rise of the “sharing economy” irks San Francisco progressives and labor unions, regulation-averse Silicon Valley companies are popular with the mainstream Democratic Party. Obama campaign architect David Plouffe now works for Uber, Lyft has hired former House Democratic leader Dick …

Comment by Senior Housing Analyst
2017-12-09 11:37:41

“Donkey Valley” lol.

Housing, brown envelopes, poverty and crime. All the hallmarks of a state in a deep recession…. And sinking deeper.

Comment by jeff
2017-12-09 15:45:47

Yea, though I walk through the valley of the shadow of Donk, I will fear no evil: for thou art with me; thy rod and Trump cream they comfort me.

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Comment by oxide
2017-12-09 18:00:04

I’m afraid to ask what “Trump Cream” is.

 
Comment by Mafia Blocks
2017-12-10 05:37:12

Hey Donk.

 
 
 
 
Comment by Taxpayers
2017-12-09 13:58:19

Lib? = collectivist
I’m for property rights
U own it rent it out as u please

 
 
Comment by Senior Housing Analyst
2017-12-09 10:30:19

“94,785,000 Not in Labor Force; At 62.9%, Labor Force Participation Stuck Near 38-Year Low”

https://www.cnsnews.com/news/article/susan-jones/no-records-set-august-number-employed-americans-drops-participation-rate

 
Comment by Ben Jones
2017-12-09 10:53:26

2308 E Piru St, Compton, CA 90222
4 beds 3 baths 1,602 sqft
Foreclosure
$329,900
Foreclosure Estimate: $346,069
Est. Mortgage
$1,219/mo
Property remains available! Priced for an immediate sale with upside potential! Calling all investors, newer construction featuring 3 bedrooms and 2.5 bathrooms including a master bedroom and bath upstairs. Property features an update kitchen with tile floors, laundry hook ups, living room and half bath downstairs. All bedrooms and 2 bathrooms are located upstairs. Property is gated for privacy! Property needs cosmetic updates and repairs.

https://www.zillow.com/homedetails/2308-E-Piru-St-Compton-CA-90222/21002785_zpid/

11/13/17 Listed for sale $329,900+13.0% $205 Reinoso Proper…
04/06/17 Sold: Foreclosed to lender $292,000+0.3% $182

Public Record

12/29/16 Listing removed $291,000 $181
08/02/16 Pending sale $291,000 $181
04/16/16 Price change $291,000+2.1% $181
10/06/15 Pending sale $285,000 $177
06/27/15 Listed for sale $285,000-26.0% $177
01/24/05 Sold $385,000+221% $240
12/05/02 Sold $120,000-24.9% $74
05/11/01 Sold: Foreclosed to lender $159,757+18.3% $99
07/25/97 Sold $135,000+95.7% $84
04/01/97 Sold $69,000+13,700% $43
08/09/96 Sold $500-99.6% $0
03/04/94 Sold $139,000 $86

This one is a little rough around the edges, unlike that $400/sq ft beauty I posted yesterday. The update kitchen is missing a stove.

Comment by azdude
2017-12-09 13:48:16

does it have bars on the windows and come with a 12 gauge?

Comment by oxide
2017-12-10 06:07:57

Pretty much, yeah. Actually I feel sorry for the house itself. It was built in 1993 and already it’s trashed. If it were in a better neighborhood, you could put $50K into and make it real nice. But in Compton…

 
 
 
Comment by MGSpiffy
2017-12-09 13:50:51

Lays it right out there… Addicted to funding.

Q: Chris Ward has said city depends on these tourist tax (TOT) dollars from Airbnb to fund police and other services….

A: And my cousin depends on selling drugs to fund his drug habit.

Comment by Taxpayers
2017-12-09 14:00:26

It’s always pd,rd n teachers
It’s fat asz pen sions

 
 
Comment by Ben Jones
2017-12-09 16:12:43

‘‘Clearly investment groups and out of town investors are swooping up our neighborhoods…Ajay Joshi, who hosts five Toronto condo units on Airbnb, said the proposed regulations would create more business for hotels because fewer Airbnbs would be available, while causing financial hardship for short-term rental landlords like him.’

Now just exactly why are these people allowed to break the law? Openly. And the industry has worked hard to cover up the fact a bunch of these places are almost on a corporate level.

 
Comment by palmetto
2017-12-09 16:12:52

A lot of people seem to like AirBnB when they travel. Me, I’m a little more comfortable in a “cottage (or cabin) court” type setting, where there’s a manager or concierge to help out with local recommendations. For longer stays, a house rental with an owner nearby, or some sort of property manager to contact if need be. In some ways, AirBnB is not so different from this sort of thing.

Comment by Ben Jones
2017-12-09 17:18:44

‘A lot of people seem to like AirBnB when they travel. Me’

I understand. It’s just some people might object when you and your friends pull up on eight Harley’s and crank up the ZZ Top til midnight.

We did this before: remember Craigslist? In Sedona this whole thing was covered like today and finally the city cracked down. Too many parties and beer cans. Sure it was cheaper for the tourists but the locals got sick of it.

Comment by palmetto
2017-12-09 17:39:48

What’s the difference between AirBnB and, for example, a summer rental, or a seasonal rental during the winter in Florida? Or a ski rental in Vermont or Colorado? People have been renting properties short term for decades. Now it’s done via the internet as opposed to classifieds or realtors.

The main differences that I see are shorter term rentals and more rentals in urban/suburban areas as opposed to vacation areas.

I heard a lot how it affected the 55+ community where I used to live. Typically people rented out a property to older snowbirds for three or four months during the winter, often the same people year after year. It didn’t bother the year-round residents, in fact most looked forward to the arrival of their “winter neighbors”. That changed with advent of AirBnB. It got so bad that the community had to restrict seasonal rentals to a minimum of three months. Which ruined it for the people who maybe rented for a month or two and had no problems.

Comment by Ben Jones
2017-12-09 17:56:46

If it’s legal it’s legal. Some area’s built up wth this model, like that island in Texas I used to live on. It was probably 80% short term.

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Comment by Larry Littlefield
2017-12-09 16:43:22

“This has allowed Airbnb to create housing for tourists, without having to invest in real estate or management costs. It gives them a competitive advantage against the traditional lodging industry.”

Of course the libertarian perspective is that the government has no business regulating what people do with their property (except in the richest and most exclusive enclaves, gated communities, high rise luxury housing with armed guards, etc.)

Next up, after people become homeless, they’ll move into the hotels.

https://www.dnainfo.com/new-york/20170810/gowanus/super-8-hotel-shelter-homeless

https://citylimits.org/2016/12/23/whos-afraid-of-nycs-homeless-hotels/

Comment by Ben Jones
2017-12-09 17:23:09

Yeah, well these guys aren’t libertarians. And a libertarian might say the law should be applied evenly. Are you going to regulate the hotels like you do these short term people? Are you going to tax them the same? Hold them responsible for criminal activity? I grew up in a town that didn’t have zoning, but we had deed restrictions and I’m pretty sure everybody bought a shack knowing this sort of thing was restricted and zoning sure as heck does.

Comment by OneAgainstMany
2017-12-10 12:43:11

Salt Lake City has an intractable homeless problem. A good deal of it comes from Las Vegas, but quite a lot is homegrown. The tech boom has raised rents and house prices pretty dramatically, and the problem has only gotten worse. This winter, the city purchased a run-down, dilapidated hotel and intends to turn it into housing for the homeless. It’s probably one of the better moves to address the problem, in my opinion.

https://www.deseretnews.com/article/865692160/In-our-opinion-Affordable-housing-through-motel-purchase-is-wise-move-for-city.html

 
 
 
Comment by Patrick
2017-12-09 17:16:47

President Trump, businessman, is used to working with lawyers and knows that you don’t do anything without their review.

He won an election using much less money than the favourite.

He is doing what he promised to do.

He knows what to do about a failing economy from experience; the other socialists didn’t.

Yes, he is hardnosed, but for the benefit of his country.

And the world is showing his country more respect because of it.

I cannot believe the Democrats have been able to cause so much trouble for him over this Russia item - but they seem to be the real culprits.

Equal justice under the law - disgusting that a general is made into a criminal while the others walk free due to favouritism.

For someone to claim the business improvements are because of the foundations his predecessor laid down is rediculous, and shows their lack of understanding the economy - which they report on as experts.

Comment by palmetto
2017-12-09 20:47:02

I watched the rally in Pensacola last night. He’s still got his mojo, big time. It’s just that since he became president, he’s been surrounded by the swamp to some degree. I liked how he told about how the government had been infiltrated by globalists and “some bad, evil people” who had sold the country out.

There is an undeniable affection between him and his “everyman” supporters.

I was watching that guy from Tampa, Michael LeBron (aka Lionel of Lionel nation) discuss Trump vs the anti-Trumpers and it hit me that there’s really no more Democrat and Republican, conservative and liberal. The names are still out there, but a seismic shift has taken place. It’s Trumpism vs anti-Trumpism. I expect, in the future, there will actually be a political party with some form of the name Trump in it. He seems to have attracted quite a following from a certain segment of Democrats or liberals, not that the media would ever mention this. He’s really a moderate, IMO.

Comment by Carl Morris
2017-12-10 23:06:10

It’s Trumpism vs anti-Trumpism.

Results-based versus feelings-based.

 
 
 
Comment by Senior Housing Analyst
2017-12-09 18:27:22

Cupertino, CA Housing Prices Crater 10% YOY

https://www.movoto.com/cupertino-ca/market-trends/

 
Comment by Apartment 401
2017-12-09 19:23:19

Rolling Stones live at Altamont, California December 1969:

https://www.youtube.com/watch?v=vRQaqmP7QGY

Somebody got stabbed…

Comment by Ben Jones
2017-12-09 20:18:36

Here’s some weirdness:

B52s Planet Claire

https://www.youtube.com/watch?v=eOjAzI5zALo

 
Comment by jeff
2017-12-09 20:20:36

Joe Piscopo does Frank Sinatra singing Under My Thumb

https://www.youtube.com/watch?v=jJDX-E6P2Js

Nobody got stabbed…

Comment by Ben Jones
2017-12-09 20:23:47

‘Change has come..thumb.”

Comment by palmetto
2017-12-09 20:54:16

I really enjoyed that picture you posted “Change di Come”. One of the best moments of the election for me.

(Comments wont nest below this level)
 
Comment by Tarara Boomdea
2017-12-09 23:14:32
(Comments wont nest below this level)
 
 
 
 
Comment by Mr. Banker
2017-12-09 20:19:13

When a puke who owes me money refuses to pay me what he owes then I send in my smelly debt collector.

https://bible.org/illustration/smelly-debt-collector

Comment by jeff
2017-12-10 05:51:13

“Employed by the London-Manhattan Debt Collection Agency, the 20-years-old youth will stumble into a deadbeat’s office for $65 and raise a stink until the freeloader pays up.”‘

Thinking about that in real life, a debt collector and a debtor fighting over $65 face to face could have bad results in the United States because everybody knows “Them tires don’t have a conscience,”

Repos Gone Bad: Are Big Lenders To Blame For Driveway Violence?
BUSINESS 03/22/2012

By Dave Jamieson

In the topsy-turvy repo world, it was also in Brown’s financial interests to have a reluctant target. According to his payment plan, Brown was earning $70 for each involuntary repo he completed and a mere $30 for each voluntary one. If Clements was no longer surrendering his truck by choice, then Brown stood to earn more money.

(Yada yada yada)

Brown drove over Jacobs, through the yard and down the street. Brown would later say he never meant to run over Jacobs, that it was all an accident.

“Them tires don’t have a conscience,” he said in court.

https://www.huffingtonpost.com/2012/03/22/repo-men-violence-big-lenders-auto-repossession_n_1354673.html

 
 
Comment by Professor 🐻
2017-12-09 22:34:30

Scam alert!

Dead dreams
Bitcoin is none of the things it was supposed to be
The cryptocurrency was supposed to replace the finance industry. Instead, it has replicated it.
Adrianne Jeffries
Dec—08—2017 01:33PM EST

On Thursday, the price of Bitcoin fluctuated by thousands of dollars in a 24-hour period. The Coinbase app — which lets you buy and sell cryptocurrencies, and is the number two free app in the App Store as of this writing — started freezing and throwing errors, which the company said was due to high traffic. At one point, I tested the app by trying to sell some of my (very small) amount of Bitcoin, and the app simply buckled. “Bitcoin sales are temporarily disabled,” it said in an error message.

This is not how Bitcoin was supposed to work.

In fact, most of the current Bitcoin economy, worth around $276 billion at the time of writing, is antithetical to the premise of Bitcoin.

Comment by azdude
2017-12-10 06:37:56

is this the best marketing campaign in history? people dont even understand this stuff and yet they buy based on it going up. tulip mania at its finest.

Comment by Professor 🐻
2017-12-10 07:03:17

Never before has so much koolaid been consumed by so many rubes. And now Wall Street is piling in. Will this look like Madoff 2.0 after it is all said and done?

 
 
Comment by BlueSkye ⚓
2017-12-10 08:10:47

and it’s all imaginary. Sign of the times.

 
 
Comment by jeff
2017-12-10 07:06:09

I was going to say something about Charlie Rose and Matt Lauer but I decided not to.

https://www.youtube.com/watch?v=zPlSV5WmBfA

Comment by palmetto
2017-12-10 08:28:09

Great tune!

 
 
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