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What was the expected outcome, and what has ended up happening in your local market? Are people buying homes and just letting them sit vacant?
by daun 7y ago
What was the expected outcome, and what has ended up happening in your local market? Are people buying homes and just letting them sit vacant?
- poulsbohemian 7y agoThe expectation was that Airbnb type properties would become available as long term rentals, and fewer people would turn dwelling into short-term rentals. But, those houses that were already in use for Airbnb remained so, and many houses in need of renovation that might have otherwise become rentals (long or short) instead sit dilapidated. Those cottages I mentioned end up difficult to move on the real estate market because they are just too small for most people’s needs - again, great for a weekend stay, not so great as ongoing living places. Our local market is a more “traditional” market than say California or what’s happened to Seattle and Vancouver, so of course our experience is going to be different.
- bernawil 7y ago> those houses that were already in use for Airbnb remained so the lesson there is not to grandfather privileges if you want to actually fix something.