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But they can only do that because there is an existing housing shortage. You can say that AirBnB exacerbates and existing housing shortage, but it doesn't creat
by curun1r 10y ago
But they can only do that because there is an existing housing shortage. You can say that AirBnB exacerbates and existing housing shortage, but it doesn't create one in the first place since the financial incentives aren't there to get creative in the ways you're describing. And reactions to crowded housing markets don't help either. For example, rent control can become such a nightmare for a landlord that making an equivalent amount of rent through AirBnB can be very attractive despite how much more work it is to rent out that way.
FWIW, my parents rent out an extra building on their property using AirBnB. They're retired and they view it as their job now, but I see it more like a hobby. The amount of work they have to put in to make around $30k/yr is substantial and they'd almost certainly do better renting to a full-time tenant and getting part-time jobs. But they're in a location that doesn't have a housing shortage. It's only because people can make a lot more money that they rent on AirBnB.
- subpixel 10y agoI disagree. Pre-AirBnB there was an affordable hotel shortage in NYC. Now there is something like an affordable housing shortage. The root cause is a tool - AirBnB - that has enabled (triggered?) a massive increase in tourism by making it financially advantageous to take housing stock off the market.