Airbnb is destroying the availability of affordable housing
Discussion
The Airbnb market is cratering in many cities. This problem will self correct.
I doubt it. It may change but itās not likely to go away as long as it remains highly profitable and as long as the poor & those on a limited income are being required to meet the strict & ever growing āchineseā social credit requirements.
No, I think nostr:npub1p5ryszcvdca78jdp5ewhu67zpyfz042m7nrha6mqx7a8wakrqrkqre5ksj is most likely right about this. The housing and Airbnb markets are both in bubbles. I think we're just gonna have to wait for them to pop. After they do, housing will hopefully become more affordable and take supply away from Airbnb. Also, I can only hope mortgage rates will drop as well once this happens.
Yes, if the housing market bubble pops then that will greatly affect Airbnb, butthatās not the reasoning that Libertas gave. I would add that Airbnb will also be in trouble if the entire econ āpopsā. However, as for now, the poor, the elderly, and disabled are more-n-more having to resort to renting Airbnbās bcz they cannot meet social credit requirements - such as having 3X the rent in income for apts & houses. And the sheepppl donāt care so I donāt see that changing anytime soon. In fact what our society is doing isā¦taking advantage of the situation. Andā¦ these renters are charging hotel rates a room. Rooms that would otherwise be affordable.
Oh, absolutely! I could go into detail, but you probably already know everything about this.
I certainly donāt know everything about it. So please do elaborate. Thanks
Aribnb has been buying up properties en masse for a long time now. They're eating up the supply, which is why housing prices have been skyrocketing. A 500k dollar house most likely costs anywhere in between 700k-800k, atm. Meanwhile salaries, as well as the average income, have barely increased at all.
Less supply > price increase > less demand
I'm confused. What's funny?
I think youāre looking at my reply to splinterās idea for a youtube channel. Itās hard to tell sometimes who is replying to who. Thereās definitely nothing funny about this situation. āļø
I think he means your rolling on the floor laughing reaction emoji.
I refuse to use Airbnb for this reason. It's also not that much cheaper than a normal hotel, and I don't have to clean shit while I'm on holiday.
You could start a ghost hunting YouTube channel and just stay and investigate at Airbnbs. Apparently itās quite a popular way to make content these days.