I've only used it once, about a year ago. I wanted to visit Nuremberg, Germany, but I picked a terrible time of the year when the hotel rates were atrocious.

I've only used it once, about a year ago. I wanted to visit Nuremberg, Germany, but I picked a terrible time of the year when the hotel rates were atrocious. So I looked on AirBnB and found an older couple renting a bedroom in their private home about 30 minutes away from the city for only about $45/night. It turned out to be a really nice experience, and I think this is what at least some people are looking for. Staying at a private (and very nice) home with some hosts (who actually live there) in a spare room is an international experience you won't get with a hotel or even a hostel. For me, it was mildly inconvenient that I had to take a train 30 minutes to get to the city those two days, but it was well worth seeing a small town I wouldn't have seen otherwise, and getting to meet actual German people and see how they live and attempt to talk to them in my broken German. I guess you just really have to be careful when you use a service like this. It's like eBay in a way: you can get ripped off on there, but if you're careful and only buy from reputable sellers, you can get some great deals.