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A recent real estate thread detailing the decline of Airbnb revenues (avg yoy revenue is down by almost 50% in cities like Austin and Phoenix) puts things into
by LapsangGuzzler 3y ago
A recent real estate thread detailing the decline of Airbnb revenues (avg yoy revenue is down by almost 50% in cities like Austin and Phoenix) puts things into perspective.
For example, there are 10x as many active AirBnb rentals in Sevierville, TN (a popular mountain tourism spot) as there are homes on the market. The overall percentage of home ownership by investors might be small, but they represent a large percentage of real estate transactions taking place today.
Buying a house today largely means being able to outbid people with millions of dollars in cash and real estate at their disposal, you will see this firsthand if you ever try to buy a home in a competitive area.
- brodouevencode 3y ago> Buying a house today largely means being able to outbid people with millions of dollars in cash and real estate at their disposal, you will see this firsthand if you ever try to buy a home in a competitive area. In my experience this is certainly true with any large land plot, which can easily be subdivided into smaller plots with houses.
- rank0 3y agoI’m not against municipalities placing restrictions on airbnbs. The reality is that they never end up doing that. That tiny mountain spot you mentioned probably LOVES all the tourism revenue. Also I don’t really understand your point…a small TN mountain town who thrives off tourism is SO far away from the shelter needs of 99.99% of Americans. Investors impact the market to some extent…but the insane monetary policy of 0% rates and 5 rounds of QE is EASILY the biggest factor. It’s not even close. EDIT: lol at your last comment. I bought a brand new house in midtown Atlanta 2021.