From the NYT:
New Yorkers who welcome strangers into their homes by becoming Airbnb hosts have found that the experience can be at turns nerve-racking, humorous and sometimes embarrassing. But for some determined hosts, it has proved profitable enough to replace more traditional revenue streams.
The first paying guest Evelyn Badia invited into her home was Ted, a professor from Amsterdam. Ted was a coffee drinker, but Evelyn didn’t own a coffee maker. “My first mistake as a host,” Ms. Badia said. “I don’t drink coffee. Why would I get a coffee maker?” She promptly went out and bought one.
Ted, it turned out, didn’t mind the oversight. When he traveled again to New York a few months later, this time with his wife, the couple stayed with Ms. Badia, whose guests have given her a five-star rating. “As an Airbnb host you have to remember, it’s not about you, it’s about them.”
Airbnb, the short-term home rental service that began operations eight years ago and is now valued at $31 billion, estimates that there are 46,000 hosts statewide, with more than 45,000 active listings in New York City alone, generating hundreds of millions of dollars in rental income every year. (Inside Airbnb, an independent data-tracking website, estimates the number of hosts in the city to be about 36,888.)
The annual median earnings for a host are $5,468 — money, the New York State attorney general has said, that may escape local sales, hotel and unincorporated business tax. State officials have instituted fines against illegal listings, arguing that Airbnb helps turn permanent housing into de facto hotel rooms. (Other cities around the world have also moved to crack down on illegal short-term rentals.)
…
While the debate continues over how Airbnb might affect housing availability and rental prices in the city, the incentive to host is clear. Why rent out the average New York one-bedroom for $2,700 a month when there is potential to make $200 every night, or $6,000 a month, during peak tourist seasons? Some housing advocates believe that if transient rentals like those on Airbnb were no longer available, the available long-term rental housing stock could be as much as 10 percent higher citywide.
Good Morning New Jersey
Proof is in the pudding. Nj schools produce. It also proves that you can make it at so called Abbott failing schools in nj. How is this Abbott system a failure and waste of money when it produces results like this? Is it the school’s fault that not every kid takes advantage of the education provided like this child? She went to a school system many claim is a failure based on a general overall analysis of student statistical data, but she is living proof that these schools are not failures. If this student was able to achieve that kind of success, maybe it’s time to stop blaming the schools for the overall so called “failing” data and instead question the role of parenting in the success of student’s education. Schools can’t fix parenting, here in lies the problem.
http://www.northjersey.com/story/news/passaic/passaic-city/2017/04/07/passaic-student-has-her-pick-5-ivy-league-schools/100066680/
Pumps lots of schools produce all over the country.
Missing the point, 3b. Why are these schools deemed failures when they indeed are provinding everything that is needed to succeed? If this student can do it, what’s everyone else’s excuse besides blaming the schools for their own failures?
3b, please compare the ap scores, college attendance rates, and college graduation percentages on a state by state level and still say there is no difference in education on a state by state basis.
Pumps I never said there was not a difference. I said there are good s and good colleges and good people living all over this country living working and building wealth. Period. You said that can only happen in this part of the country.
Heads up homeowners: Mortgage interest deduction on Trump’s chopping block.
http://www.cnbc.com/2016/12/01/heads-up-homeowners-mortgage-interest-deduction-on-trumps-chopping-block.html
I’m just basing my position on the law of avgs. I know there are good schools in any state, but I play percentages. Being a man who believes in luck, I don’t ever think I’m better than the percentages. So I will raise my child in an environment where the percentages are highly in my favor!! This is what everyone is doing when they pay up for a good school system; they are paying a lot more for a large reduction of risk. In those top towns, 99.9% of the kids graduate. Almost all of them go to college. I’ll take those odds any day of the week. Means that you are almost guaranteed to have success in your child’s education. If you can’t see that, I can’t help you to see the light.
Pumps,
NJ public schools may be very good, does not mean there are not good private and public schools elsewhere. Also, how do NJ schools compare to schools around the world?
The Great Pumpkin says:
April 9, 2017 at 10:20 am
I’m just basing my position on the law of avgs.
The Great Pumpkin says:
April 9, 2017 at 8:26 am
How is this Abbott system a failure and waste of money when it produces results like this? Is it the school’s fault that not every kid takes advantage of the education provided like this child? She went to a school system many claim is a failure based on a general overall analysis of student statistical data, but she is living proof that these schools are not failures. If this student was able to achieve that kind of success, maybe it’s time to stop blaming the schools for the overall so called “failing” data…
Pumps these failed towns and cities would not survive without the state aid, people would have to move elsewhete. Passaic a city of 67,000 get 250 million a year to continue to run these failure factories called schools. How much aid does your town get comparably? How is this judicial taking not illegal?
More importantly why don’t you send your kids there if the education is so great? Actions not words pumps go ahead and move to Passaic and let’s see how your kids make out in the system.
Phoenix. Let them do it and see what happens? Perhaps a truer value of what a house is really worth?
That’s my point exactly. Stop labeling them failing for not producing at the same level as their suburban counterparts who happen to be the best in the nation. As soon as you stop labeling them failing, you stop having to throw money at a problem that’s not really there.
Juice Box says:
April 9, 2017 at 1:32 pm
Pumps these failed towns and cities would not survive without the state aid, people would have to move elsewhete. Passaic a city of 67,000 get 250 million a year to continue to run these failure factories called schools. How much aid does your town get comparably? How is this judicial taking not illegal?
Yes, and my point was to stop labeling them failing schools. Based on the demographics being served, I’m fine with 50% graduation rate. Why do we have to call that failing and result in more money being dumped on a problem that clearly is a result of poverty and not a “failing” school. Dumping money on a school is not going to solve the age old dilemma of the effects that come with a lack of parental role in a child’s education.
PumpkinFace says:
April 9, 2017 at 1:02 pm
The Great Pumpkin says:
April 9, 2017 at 10:20 am
I’m just basing my position on the law of avgs.
The Great Pumpkin says:
April 9, 2017 at 8:26 am
How is this Abbott system a failure and waste of money when it produces results like this? Is it the school’s fault that not every kid takes advantage of the education provided like this child? She went to a school system many claim is a failure based on a general overall analysis of student statistical data, but she is living proof that these schools are not failures. If this student was able to achieve that kind of success, maybe it’s time to stop blaming the schools for the overall so called “failing” data…
Pumps our suburban schools the best in the nation?? Seriously? The best? Lots of good schools all over this country turning out successful graduates. You don’t even have kids in the school system. And your foaming at the mouth over how great they are.
http://www.marketwatch.com/story/bank-of-england-pressured-banks-to-rig-libor-secret-bbc-tape-reveals-2017-04-10?link=MW_latest_news
Wrong again jack-off. The proof of the pudding is in the eating.
Proof is in the pudding.
Nah, you just play, Pumps. Unfortunately, your criminal upbringing and your genes have made you at least a two-time loser. Your inability to reason makes you a three-time loser. Just bad luck that you ended up on the South side of nature, nurture, and natural ability.
I know there are good schools in any state, but I play percentages.
BTW, You look a lot like a woman in your new FB profile pic. 4 time loser?
This is insane.
Tesla Inc. shares TSLA, +2.86% rocketed another 3% to a fresh record in early trade Monday, after Piper Jaffray upgraded the stock to the equivalent of buy from neutral and raised its price target by 65% to $368 from $223.
http://www.marketwatch.com/story/tesla-surges-to-fresh-record-after-piper-jaffray-upgrades-to-buy-raises-price-target-by-65-2017-04-10
Want insane? Look at ASPS.
It’s not insane to draw larger fools into the fray. Lesser fools sell to them.
I played the ASPS bounce from 24 to 28 3 times. Sorry I got out on the last one!
I miss a good short play that you can depend on. I used to short EDS near and above 70 forever and then cover below 65. I don’t think you can short any stock anymore. Flat shelves have replaced pullbacks and I think that is being caused intentionally.
BTW, I never went long EDS on the way up and eventually the bottom did fall out (I didn’t profit on the big fall). HP/Compaq eventually bought them.
Neil Gorsuch was just sworn in. I imagine there will be some filibusters starting here shortly.
Phoenix [10:19];
Heads up homeowners: Mortgage interest deduction on Trump’s chopping block.
PMSNBC/DNC; they try for fake news, and at least get click-bait fake headlines. Manchin floated a trial balloon to cap deductions at $100k. If your mortgage is $1,000,000 @ 5%, interest only, your annual mortgage deduction is $50k.
Understand that the HMID is not just spliff to the homeowners; it comes from a tax code time when all interest was deductible. Even in an environment when this is not the case, consider the situation where a landlord could deduct his mortgage as a business expense, but a homeowner could not?
I just read a 100 page research report from a UK firm on Musk’s company. Neither of the analysts are CFAs. One is a former beer analyst. They chugged the Kool-Aid, then also took an enema with it.
“It is a revolution in an evolutionary industry”… “As the Model 3 ramps up, operational leverage will eviscerate the skeptics”. Predicts $1b profit in 2019, $8b profit in 2025, on revenue of $72b, versus $7b revenue last year, because a Model 3 cars will sell 1mn per year, and an undisclosed pick-up truck will sell 350k/yr in 2025. Up from volumes of about 76000 last year.
Now folks are competing to be the Henry Blodget of EVs.
Many a slip twixt the cup and the lip. And that cup is pretty far away right now.
Even in an environment when this is not the case, consider the situation where a landlord could deduct his mortgage as a business expense, but a homeowner could not?
Yes, commerce and personal are and should be different. Do you disagree?
@BenedictEvans
Stuck in traffic behind a $100k Tesla Model X, counting all the places the panels and trim aren’t quite lined up properly
@Tweetermeyer
It’s a sickness. Once you start noticing Tesla’s poor manufacturing quality, you can never not. You are forever changed.
@Tweetermeyer
And then you go sit in a $20,000 Toyota and look for the same kinds of issues. They aren’t there and the sickness deepens.
Tesla motors club where owners are complaining of trim panels not lining up and poor build quality. (with pictures)
These cars cost six figures? I guess it’s easy to rip off a greenie.
https://teslamotorsclub.com/tmc/threads/build-quality-ok-not-sure.66687/
E.W. Niedermeyer
@Tweetermeyer
Reminder that Harry Wilson is an absolute scumbag who turned the GM bailout into his personal cash piñata
http://dailykanban.com/2015/02/ballad-dirty-harry/
Looks like most of north jersey is turning into a seller’s market. It’s all falling into place just like the Pumpkin stated 5 years ago.
Expat, come make calls like this and then you can claim I don’t have the ability to reason. How many calls has pumps been right about? You put me down on every one of my calls, and yet here we are with them all being spot on… so what does that make you?
“It’s slim pickings on the real estate market in many parts of New Jersey right now, leading to major increases in listing prices as competition for what is available becomes intense, new data show.
The number of homes on the market has dropped between 15 and 20 percent in New Jersey in the past year, pushing listing prices for homes up tens of thousands of dollars in many areas, data from Realtor.com provided by the Associated Press show.
In Rutherford, Bergen County, for example, there were 21 percent fewer homes on the market in February, compared to the same time last year. The average listing price has risen by more than $100,000 in the same timeframe.”
http://www.nj.com/news/index.ssf/2017/04/should_you_buy_or_sell_your_house_right_now_i.html#incart_2box_nj-homepage-featured
RUTROH
“The benchmark averages have surrendered earlier gains on news that China has deployed 150,000 troops to the North Korean border.”
Pumps – you’re right about exactly zip until you sell your shack with the raceway frontage. Just sell and show us how right you were. I bet I have more 2017 RE profits than you do by July. Man-up and sell your crapshack and invest it in Camden and Atlantic City (those are your “calls” too, right?)
As for Atlantic City and Camden, I think those are more 30+ years out until they see any sort of revival.
I don’t know if its because I’m a Pump supporter, or if I’ve watched too many movies, but most of you that ridicule Pumpkin sound like the people that were in disbelief in “The Big Short”