2 ms·
> Is restricting new construction the problem? It is a major problem, yes. > I believe the problem is airbnb What? No? Short term rentals are under 1% of h
by dmoy 3y ago
> Is restricting new construction the problem?
It is a major problem, yes.
> I believe the problem is airbnb
What? No? Short term rentals are under 1% of housing stock. Population growth in the US is somewhere between 0.5-1% per year, so even if you got rid of all short term rentals that solves your housing issues from just population growth for two years at most.
> mega-corporations/banks buying up and renting out homes,
This I don't know about. I think at least 25% of housing rental stock total, something like 10-15 million units, is just individual owners.
I don't know to what extent that forces market prices.
> homes that sit empty trying to get exorbitant rental rates,
The vacancy rate is what like 5% for rentals? 5% rental vacancy for rentals is a little high, but e.g. a 2% vacancy rate would exist if people move on average once every four years and it takes only a month to turnaround to a new tenant. 5% isn't all that high.
> vacation homes and non-homestead homes that sit empty...
Vacancy rate for housing that isn't rentals is under 1%.