I ultimately interpreted this as though Airbnbs were being frowned-upon by local government.

It's very much an up and coming area; a lot of young movers and shakers are coming in and setting up shop in its rustic charm, investing in the local businesses and culture, and it seems like the local government is riding that wave, investing in public areas and roads.

There is a lot of room to grow and government isn't nearly as restrictive as most places.

Personally as a traveler I would not want to stay in a property that is not operating within the restrictions set by the governing authority.

I'm not sure what the rules governing LLCs are in CA.

I will say there's plenty of catalysts out there; Stretched labor market, high corporate debt, overvalued assets, massive government debt on almost all levels, geopolitical instability, failing pension funds, political uncertainty, and on it goes.

I always found it ironic that by paying more taxes than needed, thus having less money than you could, you can get a loan easier.There is a reason the government made rules on who could be approved for a loan. 

Don't trust anything unless it is on a government website or from a lawyer. 

On average, I'd guess 'most' people who want to ban STR are left leaning only because they're more likely to favor a larger government controlling what people do with their own property. 

And services have been cut to the bone.At some point we likely see bankruptcy (as predicted by the bonds), but even if we dont, its fair to say Illinois is not a growth state, and that costs for fees, and property taxes are likely headed up.So declining population, radical tenant friendly laws and high government costs all point to me as a place I would not want to invest.