Critics decry fractional ownership in luxury communities | On Balance
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- Опубликовано: 24 окт 2024
- A new startup called Pacaso promises luxury homes at a fraction of the cost. It allows people to buy a share in a home they can use for an eighth of the year. Some neighbors in the same luxury communities as Pacaso are not happy about the concept. Austin Allison, Pacaso co-founder, speaks to “On Balance” host Leland Vittert.
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Also known as a timeshare?
Yea I noticed that, nothing new, just twisting the title to get those clicks!
Trying to smooth over what it really is, like they do with "food insecurity"- they're freaking hungry. They want being honest to sound crude.
How is it a timeshare when you actually own the home.
Timeshare crap. Call it for what it is - the worst investment ever
What's really going to happen is that 1/8 share is going to be used up by Airbnb types who are going to party at until 4:00 a.m. in family neighborhoods and crash property values. That's why you need a good HOA that makes this stuff illegal in your area. Yes, some HOAs don't suck. Mine has never bothered me but has always kept stupidity like this out of our neighborhood.
Exactly. I would not be happy with a Picaso hose in my neighborhood.
Pacaso doesn't allow their houses to be sub rented out as short term rentals.
@@strandtc yeah I'm sure that will stand
@@watchdealer11 I'm pretty sure that's written into the LLC operating agreement that the owners agree to as part of their purchase into the LLC.
The guy is a lying wretch. The 6000 multi owner LLC’s he references are nearly all husbands and wives jointly owning the property, not his tweaked version of an expensive time share.
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How is this different than a time share? It sounds like a disaster for the neighbors and homeowners both. It would be tricky to get out of or sell if the owners you share with are nuts.
Reminds me of Timesharing.
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I love this news they are great, Blessed Be.
Oh rump would boot that idea.
It's a right to be able to own what you can afford. If you can't afford a home in an upscale community you don't live there.
Bring fractional ownership to ALL hoity toity areas, especially Beverly Hills etc.
Seeing the wealthy whine is too good.
I think Austin wants to keep getting rich from mayhem. The only rights he cares about are his.