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Let’s be honest. We will live with this pandemic and flares of it - like in Honk Kong - until we have a vaccine. It will never be like before until we get a vaccine. And this is years from now. Can your business survive?
I am forced to convert to long term rental which I don’t want it. Meanwhile I keep getting inquiries from essential workers who want long term. For security reasons I can’t accommodate total strangers, like a medical professional and a worker in another field in the same house with shared bathroom and living and kitchen. So, also for security reasons, I’m allowing just one guest, the medical professional, in one bedroom and keep locked the others bedrooms, but by doing so I function at a loss. Im ok for now and glad that I can be of help to our medical professional but my business can’t survive like this for years until we get a vaccine.
I’m thinking that I might sell the house and get out of this business. Although selling a house in the recession that will come might be a bad idea also. What are your thoughts?
Low interest rates might help with a house sale. My husband and I were leaning toward selling in the next few years and this may hasten that decision. We are considering also going to a long term rental and dividing our house up appropriately. We usually rent three rooms but only one can be really isolated. One room will not support the insurance premiums necessitated by my state law.
I fantasize about a tiny house, but I don’t think that would have been fun during lockdown. It’s the uncertainty that is making these decisions so hard. Take heart that there may be more than one right answer.
This is not a full time – make a living or else – business for us, and never will be. But yes. Things will continue weird until everyone who wants it can be vaccinated. basic law of nature – adapt or die.
We are selling. We put our vacation property on the market in March and had it under contract in less than 2 weeks. Ironically the market is hot right now for this type of property, about 1.5 hours outside a major metropolitan area. Very very few sellers, which has surprised me bc of the short term rental ban but maybe since most of the owners live in the city they want to use the properties this summer?
I have two houses. I want to sell my current house and move into what is now the rental one. School taxes where I live are through the roof and with my son out of high school there is no point in me staying here for another 2 years until there will be a vaccine. The neighborhood is nice and ritzy but with no extra income from Airbnb I see no point in having a house sitting empty and I don’t want to become LTR - I suffer from PTSD only when I think about it. I really had a bad, bad experience 7 years ago, as a landlord. Basically I just want to find out if any of you are in my position or what do you think about the housing market.
this is not a full time for me either, I have a full time job, so I am ok, but I’m just looking at this situation from investment point of view and I think selling one house is the right thing to do right now rather than having one house sitting idle.
I dont think that housing situation is so sad.
I am.not looking forward to this summer but not to the point that I want to sell my house.
It will not stay like this forever . A believ Airbnb will still be going strong in a future
I am fortunate enough to be able to afford my bills without my AirBnB income. I need a place to live and it was a bonus I could make some money off my house as well.
I had roommate-tenants before I did AirBnB, but I have kids now so I don’t want housemates sharing a kitchen and common areas anymore. I’m glad I don’t have housemates right now as sheltering-in-place has enough challenges without non-family members potentially bringing the virus home.
I’m curious who will be left in 1-2 years when we can open back up. I presume the AirBnB prospectors will long be out of business.
LTR can be tricky especially in areas where the government favor consumers to the extreme. I have been very fortunate renting my LTRs (I also do STR) by word of mouth from my current tenants rather than ads. They have a vested interest in finding good neighbors.
I don’t know what market your in but my property has almost out earned me consistently for nearly 2 decades.
Where you are in life should be a deciding factor not covid 19.
I’m going to ride it out even if it is 2 yrs which I highly doubt it will be.
International travel will return
People are creatures of habit.
And for many that will be “both.” If older, sicker people have the worst outcomes then they are probably going to cut back on travel. I think the overall effect is going to be worse than most people are anticipating. Regardless of what politicians, pundits, and preachers say, quite a few people believe in science and have no intention of “returning” to how things used to be until we know a lot more.
I can’t be the only one who has no intention of entering any enclosed space crowded with people (planes, trains, ships, arenas, theaters, etc). I’ll get in my car and go see friends, do things outdoors or go to museums that limit the number of people going in. I’ll be spending a whole lot less as well.
Having a vaccine/treatment etc in 12-18 months is a best case scenario, not a worst case one.
A year or two? This is a very pessimistic prognosis . Life goes on…also more and more people become non believers in this pandemic and some never were. I have friends all over the world and I know what people are saying in many countries . People are not scared to go back to live normally …just like before .
Another thing is restrictions that could prolong
travelings . Ryan air just announced that they will not fly with " idiotic restrictions" to keep middle seat empty.
Most Americans say they won’t be attending large events before a vaccine is developed. And many people across the planet are going to be suffering economically for months or years. Even people who are relatively well off are going to have less discretionary spending. My retirement accounts are down 20% and I will have no extra income from my dog boarding and Airbnb for at least two months total. That’s my travel money.
There is literally no evidence that things will go back to the way they were before. Yes there will be exceptions and non believers in the pandemic. But the pandemic doesn’t care if anyone believes in it or not. Two years is actually the optimistic prognosis.
I guess future will tell. None of the projecfions so far came true . Florida was projected to be hot spot and that never happened …not even close . There is no evidence for anything so far. And do we still believe what media says?
People will travel. May be will be different market , more business travelers than tourists I don’t see how we should be so scared and panicked that we have to rush and sell our houses in fear that business… may be …probably… .will be almost not existant
According to New York Times on April 27 (my emphasis added):
At least 40,000 more people have died during the coronavirus pandemic over the last month than the official Covid-19 death counts report, a review of mortality data in 12 countries shows — providing a clearer, if still incomplete, picture of the toll of the crisis.
In the last month, far more people died in these countries than in previous years, The New York Times found. The totals include deaths from Covid-19 as well as those from other causes, likely including people who could not be treated as hospitals became overwhelmed. These numbers undermine the notion that many people who have died from the virus may soon have died anyway. In Paris, more than twice the usual number of people have died each day, far more than the peak of a bad flu season. In New York City, the number has spiked to six times the normal amount.
I would add that unlike COVID-19, we know full well how to treat poverty. We just don’t necessarily have the political will to do so.
Since symptom-free people can shed the virus to those who are at higher risk, which of your at-risk relatives and friends are you willing to infect? Or at-risk strangers?
