Holy God We’re About to Lose Everything Coronavirus Pandemic Crushes Overleveraged AirBnB Superhosts
Read the story at zero hedge here
Wealth never ever “goes away”… it just moves transfers itself to others positioned opportunistically.
The mega rich are receiving the wealth of the upper middle, the middle and the lower classes… again.
Some smart, ambitious people saved up, worked on their credit, climbed their career ladder and took the risks of identifying a new wealth creation model that seemed unbeatable:
Buy desirable real estate in popular locations.
Become a “Superhost” on Airbnb.
They were booking these properties solid and consistently.
The rentals were paying the mortgages, the prop taxes, giving them cash flow AND they were going up in value at the same time.
It was a super smart way to go.
until…………
This.
Now what?
They’re going to have to file BK, or foreclose or walk away or hold on until they can’t…
…they’re going to lose everything, smash their credit and lose all that wealth.
But…
It’s not just going to “disappear”….
Those pieces of desirable real estate and all that wealth is going to be held by someone.
Banks, investors and other corporations and entities are going to be buying these properties at basement prices.
The banksters ALWAYS get bailed out.
The question is always:
What else are people doing to create cash flow?
Without cash flow, everything else these days has invisible risk that you never could possibly have thought of.
The only thing people can do it seems, is to look for and master skills and strategies that allow them to create their own cash flow and get as cash flow independent as possible in a way that bring as little risk as possible.
If you’re not figuring out how to create your own cash flow, you will be turned into just another dependent economic slave and if you need their “handouts” and micro bailouts from government and your local politicians, you’ll find yourself politically enslaved too and you will not have “local politicians” and “government” anymore…
…you’ll have rulers and lords again.
Just like in medieval times.
Sadly most people have been so emasculated and domesticated and institutionalized that they are being programmed to be their own slave police.
Your “new normal” is being shoved down your throat.
And if you do not agree with them, you are silenced and shamed.
Happy wednesday.
Go ahead, put on your cute little virtue signalling mask, watch mainstream news all day, wait for your vaccine, be a good little slave and bend over… another day.
Good boy…
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