4 ms·
My point was more about quantities - assume 1:1 elasticity, there are like 11,000 Airbnbs in nyc (assume all investor owned / 100% dedicated to Airbnb), that’s
by balderdash 3y ago
My point was more about quantities - assume 1:1 elasticity, there are like 11,000 Airbnbs in nyc (assume all investor owned / 100% dedicated to Airbnb), that’s like 0.3% of the housing stock in NYC. If you sold them all tomorrow it would be like one months sales.
My main point being that people expecting any sort of regulation on Airbnb to have an effect on pricing seems naive.
- tmnvix 3y agoAssuming 0.3% and also assuming a rental vacancy rate of 3% (typically reported in many cities), that is a 10% boost to available rentals - so yes, it's significant.
- balderdash 3y agoI think that’s the wrong metric, the velocity is much higher (20-30k new rentals/month which means all the airbnbs would consumed in like 1-2 weeks)