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Crypto and AirBnB
Every now and then I like to pop into reddit just to get a general feel of sentiment. So I ran across a thread where people who had big gains in crypto took a loan out on their crypto holdings then took the money and bought units, houses etc. in order to generate income from AirBnB. Sounds like they got margin called and have to unload the units. Absolute craziness. Anyone else hear about this? You can never tell on reddit if it actually happened in real life but it would not surprise me.
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Margin call will likely be a double-whammy. Selling the AirBnB properties now will likely be at a loss and take some time. They likely purchased real estate at market peak. Higher interest rates will reduce pool of buyers.
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Greed doesn't have a throttle. They're in the right spot, Spankville USA.
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Yeah, I would believe it. Just a dumb move all the way around if true