All Forum Posts by: Kelly Sennholz

Let us know the rest of the story! Great job.

A few years ago, the average income of the upper 0.01% was $24,000,000 per year. NOT net worth, this is the income.

I have a feeling based on graphs I've seen it is now more like $50,000,000 per year. Income, NOT net worth.

Agree with all your points: EXCEPT:

The things we did by then were very expensive. A good wool sweater would be hundreds of dollars, no throwaway anything.   

The "rich" in our towns went to the same social events, etc, as the poor. They drove their cadillac there, which was much of the only difference between the two.

The rich now often don't EVER see a middle class person. MOST middle class people don't have any comprehension of the wealth of the rich now. A $10,000 per night hotel, a $25,000 lunch, all are regular things for these folks. One of the reasons it is hard for people to understand the IMMENSE wealth of these folks is you will never see them. You don't see what they are buying, their consumption, their habits. They don't fly on our planes, not even first class, as that is soooo bourgeoisie. They fly cheaper private jets everywhere. They go to places you never even knew existed. 

Most middle class folks think those making a few hundred thousand are rich because that is all they see. The REAL rich folks are hidden from view on purpose. 

Income inequality is one of the biggest things associated with measured happiness in nations across the world. The wider the divide, the less happy nations are. Underscored by the many societal and economic issues associated with income inequality. 

Quote from @Bruce Woodruff:

Quote from @Kelly Sennholz:

Just because someone disagrees with you doesn't mean they don't know.

Here is a website, looks like could help you. https://equalitytrust.org.uk/a...

Quote from @Jason Smith:

This is what OP is referring to a comedian Caleb Hearon wrote on Twitter "i'm done with airbnb lmao these mother****ers have curfews, quiet hours, and chore lists now. i will be at a HOTEL." It has 442K likes. Some tik tok people jumped on the bandwagon and made videos, etc. Crap websites like Yahoo, Bored Panda,and Daily Dot ran with story. I have stayed at a VRBO beach house where they charged $130 cleaning fee but still wanted you to take out the trash and possible start a load of laundry for towels - so it does happen. But people have had viral complaints about Uber and Lyft and they are still around. If you buy a STR that only works making 2021 and 2022 daily rates you are going in trouble or if they are outlawed in your area. I predict the people that recently bought in Pigeon Ford, Destin and Joshu Tree are goning to get slaughtered.

Yes, and I think his comment tapped into a ton of real life experiences, which is why it went viral. Every place I've stayed in past 2 year had entirely unreasonable ideas about how the place should be left. Basically, they wanted me to deep clean it, wash the sheets, do all dishes and do NOT leave them in drainer to dry (so I'm supposed to get up an hour early to do dishes, dry, put them away, strip all beds, wash sheets, mop floors... get outta here.... and pocket the cleaning fee. People are on to that. The threads on these massive travel sites are illustrative for STR owners. The bar has been raised.

Quote from @Bruce Woodruff:

Quote from @Kelly Sennholz:

Like everyone, I have minor disagreements (such as we need to more strongly support wages of lower income folks, more work to offset the dangerous income inequality, independence of Powell, etc) 

Not like everyone. You should speak for yourself only.

No one I know is concerned about wages of low income folks...... They need to get higher paying jobs, period, problem solved. 

And there is no such thing as 'dangerous income equality', what the heck is that? Some people are billionaires, others struggle to be middle class. It's about choices and some luck. Nothing dangerous there, just reality.

 I would recommend you read more about the economic and social problems with income inequality. It seems you don't know. 

Excellent assessment. Like everyone, I have minor disagreements (such as we need to more strongly support wages of lower income folks, more work to offset the dangerous income inequality, independence of Powell, etc) but your assessment is spot on.

I see a lot of folks having problems understanding it and I'm not sure why. It's imperative now more than ever that Americans are keenly in tune with real news of the day.

Thanks for putting this out there! 

Carolyn Fuller I'm pleased you have had great experiences. The 3 cancellations were Hawaii apartment, Palm Springs apartment and another Palm Springs. I believe all 3 to have been cancelled due to increasing prices in their area, causing them to cancel and raise the price instead of honoring the reservation. Three out of 6 reservations is not good. 

I'm sharing with you a massive number of posts of late re: cancellation issues with Airbnb. They just changed their cancellation policy in response but I'm not sure that will be sufficient.

News this week:
"Booking Holdings, Airbnb and Expedia fall more than 15% month-to-date as flight cancellations show ripple effects"

I agree with above post re: the great returns but high instability of Airbnb. One of the problems with just "switching over to mid or long term rentals if things go south" theory is that there will be a significant number of Airbnb owners doing the same thing at the same time if that occurs. Having 200 rentals fall on a neighborhood in a short period of time will be challenging.

I love Airbnb rental biz and kudos to all of you doing it, fantastic. I'm simply pointing out what any good business person would do, which is the pros and cons of a business. It's important, especially for new investors, to understand all of it before one proceeds.

Well, I can share one interesting thing I know. Airbnb communicates entirely different messages to host and guest. I ran into an issue w/ a place this year. Host was telling me, "They said x, y, z" and I said, "No they said the opposite to me." She copied their message to me. It was true. They were just randomly telling each of us what we wanted to hear, which made the problem worse. One of the top complaints on traveler threads now is last minute cancellations with no notice, no home, no place to stay. As I shared, I've had 3 this year alone myself, out of 6 stays.