SAN FRANCISCO—According to a new report released Friday by the National Association of Realtors, more young American adults are becoming homeowners by renting a house or apartment on Airbnb and then changing the locks. “Though millennials had to endure the Great Recession and are now faced with soaring housing costs, many have found they can still own their own home by booking temporary lodging online and then hiring a locksmith who doesn’t ask any questions,” said real estate broker Betty Rapien, describing how the generation now in its late 20s and 30s is forgoing traditional avenues of homeownership and taking the more modern approach of moving all their stuff into an Airbnb and simply ignoring anyone who bangs on the door asking them to leave. “Though prices are high and mortgage rates are rising, young adults are finding that with just a little planning and resourcefulness, they can save up enough cash to cover one night in a vacation rental plus the $300 or so needed to rekey the doors to their new home. Considering how many beautiful houses on Vrbo and Airbnb can be accessed for as little as $150, it’s really a taker’s market right now.” Rapien, 35, added that once she paid off her student loans, she herself hoped to scrape together the $700 needed to move her family into a Victorian townhouse in San Francisco’s Mission District.
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