The King Takes Your Castle
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491_9780932010049
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This book describes intriguing issues raised by the sharing economy which has resulted in rapid financial growth for several internet firms, such as Airbnb and Expedia/HomeAway, which have rapidly become larger than major hotel chains. The impending surprise is the current economic disaster that is resulting from overreaching of city laws designed to raise city tax revenue, but instead are now causing severe damage the local and national economy.The rapid growth of short-term rentals resulted in aggressive response from hotel workers unions and low-income persons who want minimal rents. Nationwide, looking to their next election, city executives recently passed new draconian city ordinances which now impose severe restrictions for short-term rentals. This book shows how these new city laws clearly violate the essential rights and liberties guaranteed by the U.S. Constitution. Class action lawsuits have not yet resulted in correction, because the weakened funding for state court systems has resulted in a critical reluctance by major law firms to litigate these issues.The book includes detailed data on the major impact on the economy, and why investors must now consider the investment risks caused by the unusually strict local regulations. Each property owner must now understand their Constitutional rights, the impact of the faulty city ordinances, and the critical personal investment decisions required to avoid major losses. Most investors must shift their investment strategy and political choices to match the new paradigm of the sharing economy. As greed, many cities view the economic growth as an opportunity to tax and restrict. New city ordinances now impose severe restrictions for short-term rentals, which appear to violate the essential liberties guaranteed by the U.S. Constitution. The new city laws have a major impact
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