The "Sharing" Economy: Issues Facing Platforms, Participants, and Regulators A Federal Trade Commission Workshop #00756

Submission Number:
00756
Commenter:
Alexandra Story
State:
New York
Initiative Name:
The "Sharing" Economy: Issues Facing Platforms, Participants, and Regulators A Federal Trade Commission Workshop
Airbnb has helped many families like me who are struggling to raise a family in new york city where both buying and renting is a true financial investment that can eat up half your salary. In my case I bought my home in 1996 in the east village and when I found out it was condemned I invested a lot of borrowed money in rebuilding it. My story isn't a sob story since I am the lucky owner of a house in the east village; however, I fell victim to a ponzi scheme in 2008 and lost all my money. A month later my husband left me. At that point I probably should have sold my home since I'm an adjunct professor and make very little money but I didn't want to cause my boys any more disruption in their lives so instead of selling my home I took on more hours and got a roommate. Still that wasn't enough to pay my mortgage and the electric bills and fix the roof when it started leaking. For me Airbnb has been a lifesaver. A way to continue to live in my home and not have to sell it. During months that are particularly tight, especially in between semesters when I sometimes don't have work, having the extra income allows me to continue to stay in my home and not have to sell it - this is not a minor achievement in new york city these days - the second most expensive city in the U.S. I am grateful to Airbnb for helping me to get by in this tough city. Thank you, Alexandra Story