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Sure, cities are fashionable again. There's a generational shift and demand is high. Construction is slow. Growth in some places is opposed, by both people a
by a-dub 11y ago
Sure, cities are fashionable again. There's a generational shift and demand is high. Construction is slow. Growth in some places is opposed, by both people and governments. All of this results in limited supply.
So I guess we agree that supply is limited.
But I ask you this: If supply is critically limited, then how on earth is it silly to complain about a "rental service" that mainstreams alternative uses of housing stock where the net effect is even more reduction of supply.
Alternate means of doing business are interesting, and new structures in society are also interesting. People can and should experiment. But if they're experimenting in areas that are already problematic and are doing so in ways that obviously make the problems worse... I'm going to heap blame on them whether you think it's silly or not.
- kansface 11y agoIts unclear how many of those units would turn into long term rentals. In in SF at least, I'm guessing well under half. Many, some, most? of the units are part timed occupied by the landlord. The commercial properties (run by businesses) account for about 1/3 of the listings. How many of those units would turn into long term rentals? It can take over a year and cost tens of thousands of dollars to evict a tenant. Throw in rent control and you have a market where it is often more attractive to not rent your vacant unit - particularly if you want to move into the unit or sell it within the decade. All in all, I would estimate that airbnb siphons up around 1% of the units away from long term rentals.
- sokoloff 11y agoI would think that a system that more efficiently allocates a scarce resource is good. That some people were previously benefiting from the existing inefficiency is a bug, not a feature, IMO.
- deleted 11y ago[deleted]
- makomk 11y agoIt's only more efficient if you tautologically define efficent allocation to be whatever the market decides. Remember, we're talking about an effect that pushes occupancy down, meaning the same amount of scarce resources are being used to satisfy fewer people's needs.
- deleted 11y ago[deleted]