There’s no more money.
Airbnb bookings have been decimated in popular Australian locations, threatening to send overleveraged investors who made a lucrative living from the platform into financial peril.
The seismic shock that hit Airbnb will reverberate through the wider Australian property market, some market experts predict, spelling good news for residential renters who have been pushed out from areas like Bondi, Byron Bay and inner-city pockets in Sydney and Melbourne.
The flipside is Airbnb super landlords and mum and dad investors who now find themselves over exposed and facing savage cuts to their expected rental income.
New data obtained by nine.com.au has revealed Australian landlords have been hit by precipitous drops in bookings and revenues of more than 70 per cent in Sydney and Melbourne during April, when domestic and international tourism stopped.
Brisbane and the Gold Coast have also been badly affected.
“This is a real problem,” My Housing Market chief economist Dr Andrew Wilson said.
Dr Wilson said many Australians had “taken advantage of higher rentals and become enterprise Airbnb landlords” in what had evolved into a very lucrative venture in recent years.
There’s a CNN piece up about the same thing happening in America, and owners planning to try to sell the properties.
But who are they going to sell them to when no one has any money?
This is a total disaster.
The entire middle class is being completely wiped out. They already have been wiped out, they just don’t know it yet.
The lockdown is going to remain in place throughout, so the collapse of the economy gets confused with general chaos from the virus. No one is ever really going to know that the economy has completely collapsed, because all of the effects will be identified as effects from virus measures.
There is no chance to fix any of it at this point, but if we get enough people organized against the hoax, we have a chance to get some form of control over state and local governments and begin to come up with plans for freedom. Basically, the best we can hope for is some kind of breaking up of the country, where people who oppose this insane new system support secession.
That means red states.
Small countries like Australia may be able to organize their populations against the hoax in the name of freedom. I don’t know. I don’t know what is going on in Australia.
What I do know is that everyone needs to start doing something, because where we’re going is a very bad place.