Stop hanging out with your deadbeat buddies that spend all day drinking, talking sports, and otherwise wasting away.

It boils down to being on the ride side of the supply/demand equation.

Compare that to Providence, with 5500 hotel rooms, 1700 of which are within walking distance of their arena.This has a direct impact on the City not being eligible to host NCAA and major conference sporting events.The data in this article is mind-boggling.

Source: WikipediaSustained and significant population growth: Prices and rents are a function of supply and demand.

Stop hanging out with your deadbeat buddies that spend all day drinking, talking sports, and otherwise wasting away.

It is all supply and demand.

The fact that it loses money is somewhat mitigated by my tax savings at year's end (I have RE professional status).You just have to keep in mind that although there's a lot of tourists to the area a lot of them are cheap bastards that gravitate towards the lowest fares out there, and there's so much supply especially in the last 2+ years that it's a serious race to the bottom as you're competing with people who bought at $150-200k 10-15 years ago, never fix up their place and don't care if they rent for $99/night.

Currently we are sitting with 3 months supply of inventory for all properties.

If there is a demand, there will be supply and people making money out of it.

Not order a second appraisal - just ask if there is a dispute process and supply our own comps if you think they are strong enough.