continue 00 market. they are essentially renting it out as a motel room. make about $15,000 a month. enables them to continue making their mortgage payments and not going to foreclosure. shepard: do you have to jump through some sort of legal hoops to rent your house out as a hotel room? well, you have got to jump through a number of hoops. one, you can imagine you have got an empty house you have got to get it staged. elite chicago rental stages it with all the furniture in it and the rest there are ordinances in chicago, for example, they start to regulate this and they tax it. in new york they just passed an ordinance this past summer saying you can t rent out your condo because, you know, some condo buildings were having people pass through like a hotel room and people who lived there didn t care much for it. shepard: that wouldn t fly well around here. do you have any sense how many people in that area are doing this? i will tell you, it s not just elite chicago rentals do
to afford. $40 a night, for example, for a place two blocks from the beach in chicago $55 a night for art gallery. stay in 117-year-old house for $89. a condo in the lakeview neighborhood for $115. i will tell you this is becoming big business. it s a perfect storm. not enough hotel rooms at reasonable prices and people with houses that they can t find a way to move. perfect combination. shepard: that place is fat. how do you find out about these places? is there a web site? you go to these web sites. there is a web site called roomo rama. this one air to bmv. they have them all over the world but more so in the u.s. than there used to be because there is this availability out there. shepard: get a couple man, that looks like fun. thanks, pal. investors today locked in some of their profits after two days of great numbers and now we have
found shot next to her mother who did not survive the attack. wildlife officials has this for whoever did it? if we find them 2 years in prisonment $200,000 in fine. shepard: only four of 15 gunshot pellets have been removed from that baby. that s a wrap on this fox trip around the world in 80 seconds. as home values have fallen during the housing downturn, people who would be selling our renting their homes or condos at a loss are now trying to make some money in other ways. so they re getting a bit creative and turning unused living space into hotel rooms jeff flock from the fox business network is live in chicago this evening. how big is this getting, jeff? shep, it s very big. i m in maybe a 6,000 square foot condo, beautiful on the north side of chicago. got all classic finishes, the marble and the viking appliances. goes for about $3 million. the problem is they can t sell it they would like to keep