5 ms·

AirBnB being in trouble is great news for a lot of people in SF. I look forward to seeing one bedroom apartments back under $500k.

subsubzero 7y ago
and sub $3k 1BR monthly rentals too.
tomashertus 7y ago
This post should be higher. I don’t have anything personally against people working at AirBnB, but I genuinely hope that they will go bust. This is not a problem limited to San Francisco but it’s a problem for every travel destination over the World. The housing prices are inflated and because of AirBnB. We all are paying for AirBnB success.
- missedthecue 7y ago
  >The housing prices are inflated and because of AirBnB You can't prove this.
  - tomashertus 7y ago
    Yes, you can: https://www.google.com/amp/s/hbr.org/amp/2019/04/research-when-airbnb-listings-in-a-city-increase-so-do-rent-prices https://www.google.com/amp/s/hbr.org/amp/2019/04/research-wh...
nemothekid 7y ago
I feel like you have to be delusional to believe AirBnB is the cause for outrageous rents in SF. The housing market everywhere in the bay area is absolutely insane - do you really believe that AirBNB has an outsized impact on cities like San Mateo? AirBNB continues to be the housing boogeyman while many people turn a blind eye to the absolutely sluggish rate of construction in the city.
- DevKoala 7y ago
  It is hard to measure the impact of either, but denying that it had have a negative effect is delusional. Only in my circle, I count two individuals who own property exclusively for the sake of renting it out on AirBnB. I have nothing against landlords, but facilitating this activity at scale is hurting society since property is being grabbed for the sole purpose of renting it out; those who have capital continue amassing property and raising prizes since property to rent out is the best investment vehicle.
  - aaronharnly 7y ago
    OT: you have a nice misnegation there — “denying that it didn’t have...” I think you meant “denying that it had...” https://languagelog.ldc.upenn.edu/nll/?cat=273 https://languagelog.ldc.upenn.edu/nll/?cat=273
    - DevKoala 7y ago
      thank you sir.
umeshunni 7y ago
Why? Will AirBnB taking a loan automatically shut down the NIMBYs that block construction projects in SF? Will it prevent shadows from falling on parks and historic laundromats from being preserved?
KKKKkkkk1 7y ago
Airbnb provides a service that has enjoyed incredible popularity for more than a decade. Granted, if it collapses, demand for SF real estate will diminish. When people die from COVID-19, demand decreases as well. Those are not good things.
thebean11 7y ago
I think the density limits deserve much more blame than AirBnB
triceratops 7y ago
SF and the Bay Area's housing problems predate AirBnB becoming popular. There just isn't enough supply and regulations prevent building more. I might agree if you were talking about Barcelona or Rome or something like that.
- esturk 7y ago
  It's never only one issue but does Airbnb compound the problem? I would say so.
gnopgnip 7y ago
It is much more likely these would continue to operate as short term rentals, but with a new owner. And in a lot of cases these investors can ride out a couple months of no bookings. The CARES act covers mortgages for many investors of residential property, offering forbearance of the mortgage.

subsubzero 7y ago

and sub $3k 1BR monthly rentals too.

tomashertus 7y ago

This post should be higher. I don’t have anything personally against people working at AirBnB, but I genuinely hope that they will go bust. This is not a problem limited to San Francisco but it’s a problem for every travel destination over the World. The housing prices are inflated and because of AirBnB. We all are paying for AirBnB success.

missedthecue 7y ago
>The housing prices are inflated and because of AirBnB You can't prove this.
- tomashertus 7y ago
  Yes, you can: https://www.google.com/amp/s/hbr.org/amp/2019/04/research-when-airbnb-listings-in-a-city-increase-so-do-rent-prices https://www.google.com/amp/s/hbr.org/amp/2019/04/research-wh...

nemothekid 7y ago

I feel like you have to be delusional to believe AirBnB is the cause for outrageous rents in SF. The housing market everywhere in the bay area is absolutely insane - do you really believe that AirBNB has an outsized impact on cities like San Mateo? AirBNB continues to be the housing boogeyman while many people turn a blind eye to the absolutely sluggish rate of construction in the city.

DevKoala 7y ago
It is hard to measure the impact of either, but denying that it had have a negative effect is delusional. Only in my circle, I count two individuals who own property exclusively for the sake of renting it out on AirBnB. I have nothing against landlords, but facilitating this activity at scale is hurting society since property is being grabbed for the sole purpose of renting it out; those who have capital continue amassing property and raising prizes since property to rent out is the best investment vehicle.
- aaronharnly 7y ago
  OT: you have a nice misnegation there — “denying that it didn’t have...” I think you meant “denying that it had...” https://languagelog.ldc.upenn.edu/nll/?cat=273 https://languagelog.ldc.upenn.edu/nll/?cat=273
  - DevKoala 7y ago
    thank you sir.

umeshunni 7y ago

Why? Will AirBnB taking a loan automatically shut down the NIMBYs that block construction projects in SF? Will it prevent shadows from falling on parks and historic laundromats from being preserved?

KKKKkkkk1 7y ago

Airbnb provides a service that has enjoyed incredible popularity for more than a decade. Granted, if it collapses, demand for SF real estate will diminish. When people die from COVID-19, demand decreases as well. Those are not good things.

thebean11 7y ago

I think the density limits deserve much more blame than AirBnB

triceratops 7y ago

SF and the Bay Area's housing problems predate AirBnB becoming popular. There just isn't enough supply and regulations prevent building more. I might agree if you were talking about Barcelona or Rome or something like that.

esturk 7y ago
It's never only one issue but does Airbnb compound the problem? I would say so.

gnopgnip 7y ago

It is much more likely these would continue to operate as short term rentals, but with a new owner. And in a lot of cases these investors can ride out a couple months of no bookings. The CARES act covers mortgages for many investors of residential property, offering forbearance of the mortgage.