Airbnb asks Canada to bailout hosts

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And so far gov’t and housing experts say: Get bent. An American internet company worth $31B can use their money to do whatever they want, but there’s no way Canadian taxpayers should be on the hook to bailout Airbnb hosts who took their own business risks while screwing the rental market in every major city across the country - especially here in Vancouver.

https://bc.ctvnews.ca/mobile/airbnb-s-r ... -1.4882572

https://thinkpol.ca/2020/04/03/no-gover ... -one-word/

If they’re over leveraged and can’t pay their mortgages on properties they bought with next to nothing down, too bad so sad. Put them back on the long term rental market where they belong, sell them, or lose them.

There are literally a few THOUSAND furnished 2 bedroom apartments for rent on local craigslist ads right now because tourism just stopped. This is definitely going to help bring rents back down a little bit out of the stratosphere. Good riddance to Airbnb. I hope this change is permanent. Airbnb should be spare bedrooms and cabins on lakes kind of thing, not thousands of full apartments removed from the rental market. IMO.

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No for supporting trump. Because doing so is deplorable.

Totally agree! This is an issue for homeowners and their mortgage specialist, and a lesson in overextending. And so true about the lack of rental properties out there, and the the high costs to rent. My son pays over $2000/month for a 1-br in Toronto.

And if they are a legit business they can claim losses. And if they aren't they've been cheating on taxes so no rewards!

I must add though that I like airbnb but it has sped up gentrification and I've been concerned about the futures of our younger generations for a while now. The cost to live is so high for someone just starting out.

^yep to all of that!

I read that Airbnb is giving their superhosts some bailout money. I don’t think it’s just to maintain their marketshare once things return to normal, but rather to try to prevent all these places from returning to the rental market at once and lowering rents in Airbnb cities.. because of that happens, Airbnb can no longer lie and argue that their business model doesn’t affect rent prices.

Bunchagreedyjerks! All of ‘em. No risk no reward and good for some people who got while the getting was good I suppose, but now they can suffer the losses from this just the same IMO.

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No for supporting trump. Because doing so is deplorable.

It would ironic if the end result of this is a reduction in the cost of living due to property prices falling. Sometimes capitalism works properly, rarely, but sometimes.

Sometimes the guests are unruly and bring mules.
https://www.ky3.com/content/news/Propos ... 99733.html

I wouldn't own my house if it wasn't for capitalism. And even if prices decrease I have experience to know to just shuffle things around and wait until prices creep up again. The magic words are interest only LOC, one has gotten me through several rough patches and I always come out on top with a nicer property.