5 ms·

As bad as they are I'd still want to have them around to keep hotel prices in check

by pyaamb 1y ago

zouhair 1y ago
No, I don't care about hotels or hotel prices. People need places to live. You can deal with Hotel prices a bit high. There are millions of people in rich countries right now having hard time paying rent or finding any.
- darkwizard42 1y ago
  This is wholesale resolved by building more housing (which Airbnbs or short term rentals do not make a meaningful dent in anyway).
  - Retric 1y ago
    There’s many places with a lot of Airbnb’s per resident, just look outside of major cities where people still want to visit. Things have mostly settled down, but suddenly taking a lot of housing off the market meant real supply shocks even if there was plenty of land available for development.
- satvikpendem 1y ago
  Zoning laws are a way bigger restriction on housing than anything else, Airbnb is a symptom and arguably a scapegoat compared to the dampening of the demand of building new housing supply.
  - deleted 1y ago
    [deleted]
  - forgotoldacc 1y ago
    Maybe in America. Outside the US, that's really not the problem. It's people buying up loads of houses and apartments in town centers and pushing everyone else out. Then landlords realize they can jack up rent because they can make more money in one weekend with some foreign tourists through Airbnb than they would from a local living there. You can build new houses. But if locals are pushed miles away from town, the town dies. A new town is formed. And if that new town gets the slightest bit of popularity on social media, Airbnb swoops in to suck the blood out of it. It's absolutely killing communities with incomes below the US average.
- betaby 1y ago
  Even in very popular cities AirBnBs are less than 0.1% of the residential dwellings. AirBnBs have negligible effect on a rent.
  - Retric 1y ago
    The world is more than just cities.
  - SoftTalker 1y ago
    What percentage are they of available residential rentals? That seems like the more relevant statistic.
    - s1artibartfast 1y ago
      2/3 of housing is owner occupied, so 0.3%
  - rester324 1y ago
    I don't think this is true. The proportion of short term rental places in some districts in European cities are as high as 8-10% and it's growing. IMO it's meaningless to cite this 0.1% non-sense, because nobody will rent an AirBnB on the outskirts of huge cities far from tourist hotspots, so whoever comes up with these numbers, they probably try smearing the data by selecting an unreasonably wide area for comparison
  - hn_throwaway_99 1y ago
    Your entire comment is just made up with no evidence. As a simple example, in Austin TX, Inside AirBnB tracks over 15000 short term rentals, which would be closer to 5% of housing stock. And the "only a small percentage of housing is AirBNBs" is a poor argument anyway, because home prices are set at the margins, and a relatively small reduction in housing supply in a constrained market can have a significant effect on price. Plus, for people that rent out a room, in can essentially have the effect of increasing the amount they are willing to pay ("I could normally not afford this apartment, but I could if I rent out a room on AirBnB"), which also increases prices. More importantly, though, people have actually done studies on the effect of AirBnBs on prices, and found they have a positive (i.e. housing gets more expensive) effect on rents and home prices. One example: https://marketing.wharton.upenn.edu/wp-content/uploads/2019/08/09.05.2019-Proserpio-Davide-Paper.pdf https://marketing.wharton.upenn.edu/wp-content/uploads/2019/...
- lmm 1y ago
  And those countries have tried literally everything except making it legal to build more housing.
  - pyaamb 1y ago
    I think the issue is locals who are already property owners and long time local tax payers will have a greater say than newcomers on new developments in that area.
- pyaamb 1y ago
  FWIW I'm fully behind you on more housing and an especially aggressive tax on entities owning multiple properties as investments.

As bad as they are I'd still want to have them around to keep hotel prices in check

by pyaamb 1y ago

As bad as they are I'd still want to have them around to keep hotel prices in check

No, I don't care about hotels or hotel prices. People need places to live. You can deal with Hotel prices a bit high. There are millions of people in rich countries right now having hard time paying rent or finding any.

darkwizard42 1y ago
This is wholesale resolved by building more housing (which Airbnbs or short term rentals do not make a meaningful dent in anyway).
- Retric 1y ago
  There’s many places with a lot of Airbnb’s per resident, just look outside of major cities where people still want to visit. Things have mostly settled down, but suddenly taking a lot of housing off the market meant real supply shocks even if there was plenty of land available for development.
satvikpendem 1y ago
Zoning laws are a way bigger restriction on housing than anything else, Airbnb is a symptom and arguably a scapegoat compared to the dampening of the demand of building new housing supply.
- deleted 1y ago
  [deleted]
- forgotoldacc 1y ago
  Maybe in America. Outside the US, that's really not the problem. It's people buying up loads of houses and apartments in town centers and pushing everyone else out. Then landlords realize they can jack up rent because they can make more money in one weekend with some foreign tourists through Airbnb than they would from a local living there. You can build new houses. But if locals are pushed miles away from town, the town dies. A new town is formed. And if that new town gets the slightest bit of popularity on social media, Airbnb swoops in to suck the blood out of it. It's absolutely killing communities with incomes below the US average.
betaby 1y ago
Even in very popular cities AirBnBs are less than 0.1% of the residential dwellings. AirBnBs have negligible effect on a rent.
- Retric 1y ago
  The world is more than just cities.
- SoftTalker 1y ago
  What percentage are they of available residential rentals? That seems like the more relevant statistic.
  - s1artibartfast 1y ago
    2/3 of housing is owner occupied, so 0.3%
- rester324 1y ago
  I don't think this is true. The proportion of short term rental places in some districts in European cities are as high as 8-10% and it's growing. IMO it's meaningless to cite this 0.1% non-sense, because nobody will rent an AirBnB on the outskirts of huge cities far from tourist hotspots, so whoever comes up with these numbers, they probably try smearing the data by selecting an unreasonably wide area for comparison
- hn_throwaway_99 1y ago
  Your entire comment is just made up with no evidence. As a simple example, in Austin TX, Inside AirBnB tracks over 15000 short term rentals, which would be closer to 5% of housing stock. And the "only a small percentage of housing is AirBNBs" is a poor argument anyway, because home prices are set at the margins, and a relatively small reduction in housing supply in a constrained market can have a significant effect on price. Plus, for people that rent out a room, in can essentially have the effect of increasing the amount they are willing to pay ("I could normally not afford this apartment, but I could if I rent out a room on AirBnB"), which also increases prices. More importantly, though, people have actually done studies on the effect of AirBnBs on prices, and found they have a positive (i.e. housing gets more expensive) effect on rents and home prices. One example: https://marketing.wharton.upenn.edu/wp-content/uploads/2019/08/09.05.2019-Proserpio-Davide-Paper.pdf https://marketing.wharton.upenn.edu/wp-content/uploads/2019/...
lmm 1y ago
And those countries have tried literally everything except making it legal to build more housing.
- pyaamb 1y ago
  I think the issue is locals who are already property owners and long time local tax payers will have a greater say than newcomers on new developments in that area.
pyaamb 1y ago
FWIW I'm fully behind you on more housing and an especially aggressive tax on entities owning multiple properties as investments.