Not only that, these clowns cannibalized inventory for locals and sold it to tourists, gutting neighborhoods and pricing local families out (the very things that made them attractive to tourists to begin with). Hence why we've seen the long-term rental market explode +45% in London, +60% in Dublin, etc.
This is the same pigs get fat, hogs get slaughtered horror story of when people took out interest-only loans in 2007-2008 to buy up properties in places like Las Vegas.
I'm looking forward to a time when locals will be able to better afford their neighborhoods again.
2 comments
[ 6.8 ms ] story [ 17.3 ms ] threadThere is nothing wrong with owning a rental property, but the answer to loss of income is simple - sell the property and cash out while ahead.
Not only that, these clowns cannibalized inventory for locals and sold it to tourists, gutting neighborhoods and pricing local families out (the very things that made them attractive to tourists to begin with). Hence why we've seen the long-term rental market explode +45% in London, +60% in Dublin, etc.
This is the same pigs get fat, hogs get slaughtered horror story of when people took out interest-only loans in 2007-2008 to buy up properties in places like Las Vegas.
I'm looking forward to a time when locals will be able to better afford their neighborhoods again.