> Tourism can decrease housing supply, making is less affordable for long-term tenants. I'm not sure what's the size of this effect though. I've heard people m

> Tourism can decrease housing supply, making is less affordable for long-term tenants. I'm not sure what's the size of this effect though. I've heard people making comparisons like "1/3 of the apartments for rent at any given moment is short term"- which doesn't make sense, as it ignores the amount of properties rented for long term that are currently not on the market (while a short term rental is always on the market). What I think is that it makes owning a house more attractive, because the possibility of renting it out now and then lowers the cost of ownership. And thus it increases property values.