Short term rental market implosion?

[Steven Ko]

I read on Twitter that someone’s roommate is a super host on Airbnb and has 10+ mortgages/lease agreements. They are on an Airbnb forum and there are many of them in the same situation. I listen to str podcasts and this is a very common “no money down” strategy. They would be okay with paying market rates on Zillow because the cash flow was so good but now 0 cash flow. Some people pay above market rates for rent to sway landlords to allow them to Airbnb. Really interesting to see what will happen.