Before the 2007-2008 GFC, people built real estate portfolios based around renters. We all know what happened there; once consumers got pinched in the GFC, rent payments couldn't be made, and it rippled down the chain and resulted in landlords foreclosing on properties. Now a similar event is underway, that is, overleveraged Airbnb Superhosts, who own portfolios of rental properties built on debt, are now starting to blow up after the pandemic has left them incomeless for months and unable to service mortgage debt. 

We have described the financial troubles that were ahead for Superhosts in late March after noticing nationwide lockdowns led to a crash not just in the tourism and hospitality industries, but also a plunge in Airbnb bookings.