Letter: Speculative investment doesn’t come with guarantees | SteamboatToday.com
YOUR AD HERE »

Letter: Speculative investment doesn’t come with guarantees

On the topic of nightly rentals and the rights of property owners: Speculative investment doesn’t include guarantees about your financial payoff, the investment climate or the market forces acting upon your property. That’s why stocks come with the disclaimer that “past performance is no guarantee of future returns.”

Real estate works the same way, especially when that property isn’t your residence but a wealth-generator. It’s a speculative investment, and property owners don’t have the right to ensure an unchanging climate for their investment. That’s just not the way it works, not in the stock market or with dwellings that people buy with the hope of cashing in on nightly rental fees.

Steamboat Springs residents are saying that nightly rentals are tearing at the fabric of our neighborhoods, and they’re calling on our elected leaders to steer the community into a healthier balance (maybe by enforcing residential zoning that prohibits commercial operations). Doing so hardly undermines the rights of private property owners, who will continue to own said properties — and if they choose, can sell those properties for a dazzling ROI (have you watched Steamboat’s soaring home values? Of course, you have).



Such property owners will still walk away with an armload of cash, even if community regulations put the kibosh on additional nightly-rental windfalls. That’s no hardship; it’s life as a speculative investor.

Kelly Bastone



Steamboat Springs


Support Local Journalism

Support Local Journalism

Readers around Steamboat and Routt County make the Steamboat Pilot & Today’s work possible. Your financial contribution supports our efforts to deliver quality, locally relevant journalism.

Now more than ever, your support is critical to help us keep our community informed about the evolving coronavirus pandemic and the impact it is having locally. Every contribution, however large or small, will make a difference.

Each donation will be used exclusively for the development and creation of increased news coverage.

 

Letter to the Editor

Letter: Medicare disadvantage: Buyer beware

The Steamboat Pilot & Today recently published an article touting the “benefits” of Medicare Advantage insurance. The most insightful statement in the article was “Make sure you do your research.” While doing your research, please…



See more