3 ms·

This assumes the owners of the STVR units are local. My guess is the longer the phenomenon goes unregulated the more they're owned by distant rent seekers.

• crazygringo 3y ago
  If you're making a comparison, then you're assuming the owners of long-term residential buildings are local as well -- which they most certainly are not always. And I don't know why STVR owners would be less likely to be local than regular landlords. (And then if want to send money to hotels, remember those are almost always national chains!) But in any case no -- I'm talking primarily about the fact that tourists spend more on restaurants and attractions and shopping than locals. While I'm assuming that landlords just remain landlords.
  • paulryanrogers 3y ago
    Tourism is a double-edge sword. It prices out locals. Combined with unregulated STVR and some places become hollowed out shells, much like Venice.
    • crazygringo 3y ago
      No it doesn't in most of the places we're talking about, that's the whole point. Most places aren't Venice, built on islands with nowhere to expand, and wanting to preserve their ancient architecture. And NYC, where AirBNB is about to be massively reduced, doesn't have any risk of being hollowed out into a shell. Most places should just build more housing. Then locals aren't priced out at all. That's just supply and demand, basic economics.