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How Airbnb accidentally screwed the US housing market and made $100 billion (www.arktrek.shop)

submitted 3 months ago by [email protected] to c/[email protected]

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[–] [email protected] 24 points 3 months ago (1 children)

It also doesn't help housing prices that the landlords are colluding to raise prices:

https://www.ftc.gov/business-guidance/blog/2024/03/price-fixing-algorithm-still-price-fixing

It isn't just Airbnb's fault, it's landlords wanting to maximize their return, no matter the method (short-term rentals or price fixing collusion).

[–] [email protected] 2 points 3 months ago (2 children)

Then explain why this is a global phenomenon?

[–] [email protected] 4 points 3 months ago

Then explain why this is a global phenomenon?

Because the same causes are happening mostly all over the world. Meaning, buying up houses. Driving up rent, etc.

[+] [email protected] -6 points 3 months ago (1 children)

Because often it is a nightmare to evict a tenant that do not pay the rent.

I can speak for where I live where a lot of people gone to the short-rental way exactly because that way they have the certainty that when they want the house back, for every reason, they have it.

To me AirBnB is not the problem, it is the wrong solution to a real problem.

[–] [email protected] 2 points 3 months ago (1 children)

Whole home or dedicated AIRBNB should be banned.. If I had a room going unused I'd AirBnb

[–] [email protected] 1 points 3 months ago

I agree with you to some extend.

What I do not agree about is the implicit assumption that if AIRBNB is banned then every house that was used for short-term rental would become available on the long-term rental market.

The main advantage of the short-term rental (obvious higher profits aside) is the fact that the owner is sure to be able to get back the house if/when he need it. So many owners saw the possibility to use an house with AirBnB (or other similar ways) a lot more attractive than keeping it empty (paying the taxes on it) and much less risky than having a long-term rental where the tenants could be turn out to be a bad one.