[treebornfrog]

I suspect that a lot of people jumped on the airbnb hype train and thought they could be a landlord of multiple properties and probably got leveraged.

Now they're in trouble as their income dries up.

[tirpen]

> Now they're in trouble as their income dries up.

Good.

[throwaway98797]

Serves them right for taking a risk.

[rrrrrrrrrrrryan]

It serves them right for driving up rents and housing costs in their cities, which contributes to homelessness.

It's a watered down version of the same schadenfreude people felt when the guys that hoarded warehouses full of N95 masks got burned. They made a large investment and took a risk, but their speculation was at the expense of the wider community, so they shouldn't be surprised when the community had no pity on them when their investment didn't work out.

[treebornfrog]

Darwinism at it's finest.

[opportune]

This tends to happen when you overleverage on a risky asset. Good, housing prices in many markets need a sharp correction for affordability

[billpg]

They can always sell their buildings, meh.

[paulcole]

Interesting theory. How’d you come to that conclusion?

[fennecfoxen]

Perhaps poster has read news coverage.

https://www.wsj.com/articles/a-bargain-with-the-devilbill-co...

[paulcole]

I thought it might’ve been this quote from the original article:

> Airbnb has created a mechanism in which you can....donate money to landlords....many of whom have overextended themselves by leveraging multiple properties

It’s a big leap to make but I can see how that would influence their theory.