4 ms·

Because those willing to pay absurd prices are not locals, nor are they living here long-term, thus this causes locals and long-term residents to be pushed out

Because those willing to pay absurd prices are not locals, nor are they living here long-term, thus this causes locals and long-term residents to be pushed out of the city. Imagine being pushed out of your own city just because the market says tourists are more important than residents.

golergka 10y ago
You still haven't explained why this is bad. See, I don't have to imagine it: my neighbourhood is being gentrified, rent is going up all around, and I'll have to move soon. Not the beat thing ever, but since I'm being honestly outbid on an open market, I fail to see why would someone want to intervene and regulate this. Also, residents are more "important" than tourists, that's what you're trying to say? Why the hell? What does "important" even mean?
- uola 10y ago
  Residents are the ones starting and working for businesses, creating new value and paying taxes long term. Portugal is one of the worst economies in Europe. A lot of people have already moved. Trying to survive on tourism is a shortsighted and will end badly.
zanny 10y ago
There is nothing to imagine, that is how markets operate. And it is how they have always operated. Hotels and tourist destinations are not built or preserved for your "visit it once and live there 30 years without going again" revenue. Unsurprisingly, money dictates land allocation. If you have the money to buy land (and in effect, tourists are buying inner city residential through airbnb) you can only resist economic reality so long. At that - how do you have claim to it being your city? Do you own it? If you own property in it, is someone evicting you from your own home? If you are renting, well, that's not owning. If your neighbors are deciding to sell or rent their homes at lucrative margins to tourists, why do you think you are in the right telling them they cannot do what they want with the property they own?

golergka 10y ago

You still haven't explained why this is bad. See, I don't have to imagine it: my neighbourhood is being gentrified, rent is going up all around, and I'll have to move soon. Not the beat thing ever, but since I'm being honestly outbid on an open market, I fail to see why would someone want to intervene and regulate this. Also, residents are more "important" than tourists, that's what you're trying to say? Why the hell? What does "important" even mean?

uola 10y ago
Residents are the ones starting and working for businesses, creating new value and paying taxes long term. Portugal is one of the worst economies in Europe. A lot of people have already moved. Trying to survive on tourism is a shortsighted and will end badly.

zanny 10y ago

There is nothing to imagine, that is how markets operate. And it is how they have always operated. Hotels and tourist destinations are not built or preserved for your "visit it once and live there 30 years without going again" revenue. Unsurprisingly, money dictates land allocation. If you have the money to buy land (and in effect, tourists are buying inner city residential through airbnb) you can only resist economic reality so long. At that - how do you have claim to it being your city? Do you own it? If you own property in it, is someone evicting you from your own home? If you are renting, well, that's not owning. If your neighbors are deciding to sell or rent their homes at lucrative margins to tourists, why do you think you are in the right telling them they cannot do what they want with the property they own?