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Absolutely. Impediments to new housing undoubtedly have an impact. I just find it a little frustrating that when discussing the accommodation crisis (I say 'the
by tmnvix 3y ago
Absolutely. Impediments to new housing undoubtedly have an impact. I just find it a little frustrating that when discussing the accommodation crisis (I say 'the' but there are many) this side of the equation so often overshadows the problems we have created on the demand side.
Cheap credit (which favours those with capital). Tax advantages (relative to other investment classes). Speculative sentiment. Lack of effective regulation (e.g. allowing investors to essentially remove properties from the housing market via short term rentals). These are just a few of the demand side issues that get largely ignored when discussion is framed only in terms of a 'shortage'.
- Bostonian 3y agoI don't think the phrase "allowing investors to essentially remove properties from the housing market via short term rentals" makes sense. Short term renters are still being housed. In general, landlords want their properties occupied by people paying rent, whether it's a long-term lease or a daily one (like a hotel).
- tmnvix 3y agoFair enough, though in my defence I don't consider hotels to be a part of the housing market. Short term rentals are part of the same market as hotels in my opinion.