The "Sharing" Economy: Issues Facing Platforms, Participants, and Regulators A Federal Trade Commission Workshop
Last year my rent increased $300. This year it will increase $400. I do not know where I will move. I am 69 years old and work in the field of real estate finance. My industry was decimated in the downturn and I have no cash reserves any more. My social security pays my long term bills and insurance and I often have to borrow money to pay my rent. When I get a commission I repay the short term loans. I owe the IRS about $40,000 and I pay them $700 per month. It goes out to them on a Bill Pay system with my credit union, but often I cannot make that payment so the bank makes it and I am charged $29. I live hand to mouth, obviously, but I persevere. I have rented my apartment one time with Air BNB, going to stay with my son in law for the weekend. I received $300 and was able to repay part of the Bill Pay loan I had borrowed one of the times when I was unable to pay my rent. Because of the Air BNB income I was able to reduce my balance with Bill Pay to about $250. I have a college degree from UC Berkeley and graduated with Honors. I am not complaining, nor am I boasting. But I would like the FTC to understand the value of Air BNB to me.