This is a myth. Airbnb has too few properties listed to actually have any impact on property prices. The shortage is real, but it’s not of their making.
Comment on What happened to Airbnb?
Raiderkev@lemmy.world 10 months ago
I can’t afford a house in my hometown in part because cunts buy houses to be airbnbs. Fuck them. I will always book a hotel unless there’s literally no other option. I don’t want to give my money to grifters who are ruining the housing market. I also ratted my mom’s neighbor out to the city for running one out of his house. He timed the market and bought after '08 when he was working for a small social network startup. Now he doesn’t even live in that house anymore and instead of selling, uses it as an airbnb. He is an exec at what is now a very large social media company. He absolutely does not need the money, but keeps the house as an asset and rents it on airbnb. I didn’t win the birth year lottery and get a chance to buy the dip. Instead I came of age with an all time high housing market that has only gone up. Then rates went up because fuck u specifically Raiderkev. Fuck air BNB. Report every last one to the city. They are likely in violation of some ordinance. People need to vote with their wallets and drive these grifters to sell and not let it be profitable for them.
wahming@monyet.cc 10 months ago
thefactremains@lemmy.world 10 months ago
I guess you heard that from a friend? Maybe try to question things more and do your own research. There’s tons of verifiable information out there and it’s easy to access.
wahming@monyet.cc 10 months ago
Based on the median growth in Airbnb listings nationally, the short-term rentals contributed to an annual increase of $9 in monthly rent and $1,800 in home prices for median zip code, the study’s authors found.
Does that really seem like a lot in context of buying a house? It certainly doesn’t look like it to me
honey_im_meat_grinding@lemmy.blahaj.zone 10 months ago
$9 x 12 = $108 increase per year. Also, you chose that sentence probably because it was the lower one despite the first paragraph being:
Short-term rentals via apps such as Airbnb contribute to housing shortages and rent increases, according to research published last week by Felix Mindl and Dr. Oliver Arentz, researchers at University of Cologne in Germany. They attributed 14.2% of overall rent increases to short-term rentals or 320 euros ($385) per year for new tenants.
TropicalDingdong@lemmy.world 10 months ago
the ban has made not one iota of impact in Honolulu.
shartedchocolate@lemmy.world 10 months ago
This type of rhetoric seems to always point at “oh but it’s something else that’s the problem, leave my airbnbs alone there are too few of them”
www.toronto.ca/…/backgroundfile-166717.pdf read some actual studies and see how much of the real estate stock is held by short term rentals and tell us about how those few properties have low impact on property prices. I’d love to see what kind of impact Toronto would have if those 9100 dwellings would be available to Torontonians. That’s about 56 dense,mid rise apartment buildings of housing.
Sorry, but the financialization of housing is a real issue that needs to get addressed.
wahming@monyet.cc 10 months ago
I’m pointing at ‘Build more fucking housing so I can afford to buy some’, I’m not sure why that appears to be so controversial.
shartedchocolate@lemmy.world 10 months ago
Because you’re saying “don’t worry about the already built housing people sit on for short term rentals, those don’t count” they do count, there are a lot of them. How long would it take to build 9100 units in Toronto vs immediately dumpstering the airbnbs and forcing sale or long term rentals. There’s a part of the issue that you just might not be aware of, it’s the fucking vacant homes that sit there empty, making loads of cash during busy season.
You’re right, building more is good, but without bans on short term rentals and proper regulations around multi home ownership we’re just gonna build more units for landlords.
Raiderkev@lemmy.world 10 months ago
My dude. Go take econ 101. Supply and demand. If there are houses being sold to people that intend to use it for air BNB, then it is both reducing available supply, and increasing demand. When that happens , it drives up price. Families now have to bid against these investment chucklefucks. It’s not a scapegoat at all. The housing market has gotten to where it is for a variety of reasons including, but not limited to investors buying them for Airbnb. You can add in firms like Blackstone backed invitation homes also buying housing to be corporate landlords, the Fed keeping rates too low for too long allowing the people with the most assets to gain equity, and leverage themselves beyond what they’d normally do because money was essentially free for them. Add foreign buyers into the mix, and baby you’ve got a housing clusterfuck going. Our solution to everyone losing their houses in '08 was to let big firms buy houses and rent them out. No one can buy a house now, but man is the economy purring. If all these leeches lost their asses, and were forced to sell, we might return to affordability. Until then, you will own nothing and be happy.
curiousPJ@lemmy.world 10 months ago
I lived in one of ‘those homes’ once… All 6 bedrooms and the garage which I stayed in was at least 1000 a month. And it was bare minimum amenities. One refrigerator shared with everyone, stove top was broken the entire time, one restroom and shower, and half of the folks had no idea how to clean dishes.
grayman@lemmy.world 10 months ago
So there’s this company that’s been buying up about 30% of houses in many cities to turn them into rentals. They outbid everyone. That’s a bigger issue than the few air bnb.