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I don't know if AirBnB is truly in decline given these anecodtes. Any such decline doesn't seem to be reflected in their quarterly revenue yet. But, as I've sai
by jmyeet 3y ago
I don't know if AirBnB is truly in decline given these anecodtes. Any such decline doesn't seem to be reflected in their quarterly revenue yet. But, as I've said for years, I hope AirBnB dies. It's cancer.
As we've seen over the last 1-2 years most places in the developed world are now entering or are in the midst of a full-blown housing crisis. The average house price in Toronto is north of C$1.1M for a country with notoriously low incomes, as one example. And that's before we even get to Vancouver.
There are lots of reasons for this including a drop in new home starts (which have never recovered to their 2007 levels in the US), effective NIMBYism at every policy level and corporations moving into residential real estate.
But the real problem here is that we treat housing, a basic human necessity, as a commodity--something to be bought and sold en masse and to be withheld from people so they die in the streets in the interests of profits. AirBnB is just once facet of this. Many view second or third or fourth homes as income sources and retirement accounts. Governments have become so beholden to these voters that most Wdeveloped governments see increasing house prices as an explicit policy goal and all sorts of money is thrown at homeowners.
This has to stop.
- lobf 3y agoOr we could just build more housing…
- jmyeet 3y agoHomeowners in large part oppose this as decreased supply increases the nominal value is what is likely their primary asset. It’s incredibly shortsighted. If we stop treating housing as a commodity that must go up in value you’ll find that the supply increases.
- midoridensha 3y ago>But, as I've said for years, I hope AirBnB dies. It's cancer. AirBnB was great ~5 years ago. If they just restricted it to people renting out their kid's room after they left for college, it would be perfect.
- jmyeet 3y agoOn this I agree. You want to rent out a room in the house you also live in? Fine. Even a separate unit in a multi-family unit? Sure. It’s a shame most of the US has made that type of building illegal but that’s another story. But instead it’s used to create illegal hotels residential areas and as investments that further restrict rental housing supply.
- MikePlacid 3y ago> But the real problem here is that we treat housing, a basic human necessity, as a commodity I have a “living experience” in a country that was treating housing not as a commodity, but as a basic human necessity. You know what - it was much, much harder to get a decent housing there than in the US. Surprise?
- jmyeet 3y agoWhat country is that?
- b212 3y agoHonest question: what should happen to all those people having multiple houses? How many is too much? What if it’s “their retirement plan”? Those people should die in the streets so others won’t? I mean I get your point but don’t see a sane way out. Maybe we should just build way more?