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As someone that would like to buy a house one day, I welcome this. People owning multiple houses to rent out to vacationers that people would like to actually l

As someone that would like to buy a house one day, I welcome this. People owning multiple houses to rent out to vacationers that people would like to actually live in doesn't upset me at all. If people buying houses to rent on Airbnb artificially inflated the housing market, it's just a necessary correction and federal support would be a mistake.

everyone 7y ago
hear hear! fuck those greedy fuckers!
- dang 7y ago
  Would you please stop posting unsubstantive and/or flamebait comments to HN? We ban accounts that do this, and have had to ask you before. https://news.ycombinator.com/newsguidelines.html https://news.ycombinator.com/newsguidelines.html
  - everyone 7y ago
    That comment is about as substantive as many of its sibling comments, I just happen to have expressed the information in a highly elegant / terse way. Also, that is not flamebait imo, and was not intended as such. The purpose of flamebait is to bait others into an argument, there is no argument to be had with my comment, no lure or hint; it's a simply bold statement. As you can see, no one has replied.
mandeepj 7y ago
>People owning multiple houses to rent out to vacationers that people would like to actually live in doesn't upset me at all. If people buying houses to rent on Airbnb artificially inflated the housing market net-net : is n't both the same?
- jankassens 7y ago
  Airbnb turns housing into hotels. Typically those are zoned differently, potentially subsidizing housing for locals at the cost of driving up prices for travelers.
lykr0n 7y ago
Agree. There are stories of people kinking out tenants to let on Airbnb. If these people get fucked by the loss in income, that'll be a simple on my face. Airbnb as a whole, is a good idea- but some people are doing horrible things to the housing market and at worst AirBNB is complicit.
chadmeister 7y ago
Look, I'm all for affordable housing, but when viewing this within the context of a looming recession and potential financial crisis I can assure you that the last thing you want to do is add in a potential amplifier to a housing market crash. Houses may get cheaper, but everyone is going to suffer in very difficult to imagine ways. Corporate debt markets are looking scary as hell right now. If you threw a housing market meltdown at it right now, we could easily be looking at something much much worse than what we saw in '08.
- threatofrain 7y ago
  A house is rarely used as an interesting business asset for generating productivity for the rest of the nation. AirBnB is like the height of how commercially productive a home can be. I would argue that the home is most interesting to a nation when it houses a family which is contributing to the economy. What we're talking about is making the housing market more healthy, where health is viewed from the perspective of the nation. There is inefficiency being absorbed by the system when very finite housing capacity is being used primarily by vacationers who already have a home, and now that terribly finite supply is being translated to mere vacation enhancement.
  - maximente 7y ago
    those are good ideas but imagine someone barely making ends meet on an "inflated" mortgage which then loses a lot of value. the bank expects them to pay back $250K but then their home value collapses down to its true price of $150K. you just created a situation where a household has negative equity - literally worse off than if they had never bought the home at all, and difficult to wiggle out of if they live there (very likely). that obviously has massive effects on their economic outlooks.
    - tylerchilds 7y ago
      Yeah, this is absolutely a problem and people's homes being foreclosed due to this type of situation does upset me. But this is a side-effect of people making money off housing shortages, which is the root cause and due for a correction.

everyone 7y ago

hear hear! fuck those greedy fuckers!

dang 7y ago
Would you please stop posting unsubstantive and/or flamebait comments to HN? We ban accounts that do this, and have had to ask you before. https://news.ycombinator.com/newsguidelines.html https://news.ycombinator.com/newsguidelines.html
- everyone 7y ago
  That comment is about as substantive as many of its sibling comments, I just happen to have expressed the information in a highly elegant / terse way. Also, that is not flamebait imo, and was not intended as such. The purpose of flamebait is to bait others into an argument, there is no argument to be had with my comment, no lure or hint; it's a simply bold statement. As you can see, no one has replied.

mandeepj 7y ago

>People owning multiple houses to rent out to vacationers that people would like to actually live in doesn't upset me at all. If people buying houses to rent on Airbnb artificially inflated the housing market net-net : is n't both the same?

jankassens 7y ago
Airbnb turns housing into hotels. Typically those are zoned differently, potentially subsidizing housing for locals at the cost of driving up prices for travelers.

lykr0n 7y ago

Agree. There are stories of people kinking out tenants to let on Airbnb. If these people get fucked by the loss in income, that'll be a simple on my face. Airbnb as a whole, is a good idea- but some people are doing horrible things to the housing market and at worst AirBNB is complicit.

chadmeister 7y ago

Look, I'm all for affordable housing, but when viewing this within the context of a looming recession and potential financial crisis I can assure you that the last thing you want to do is add in a potential amplifier to a housing market crash. Houses may get cheaper, but everyone is going to suffer in very difficult to imagine ways. Corporate debt markets are looking scary as hell right now. If you threw a housing market meltdown at it right now, we could easily be looking at something much much worse than what we saw in '08.

threatofrain 7y ago
A house is rarely used as an interesting business asset for generating productivity for the rest of the nation. AirBnB is like the height of how commercially productive a home can be. I would argue that the home is most interesting to a nation when it houses a family which is contributing to the economy. What we're talking about is making the housing market more healthy, where health is viewed from the perspective of the nation. There is inefficiency being absorbed by the system when very finite housing capacity is being used primarily by vacationers who already have a home, and now that terribly finite supply is being translated to mere vacation enhancement.
- maximente 7y ago
  those are good ideas but imagine someone barely making ends meet on an "inflated" mortgage which then loses a lot of value. the bank expects them to pay back $250K but then their home value collapses down to its true price of $150K. you just created a situation where a household has negative equity - literally worse off than if they had never bought the home at all, and difficult to wiggle out of if they live there (very likely). that obviously has massive effects on their economic outlooks.
  - tylerchilds 7y ago
    Yeah, this is absolutely a problem and people's homes being foreclosed due to this type of situation does upset me. But this is a side-effect of people making money off housing shortages, which is the root cause and due for a correction.