That arbitrageurs would find and exploit this loophole seems obvious in retrospect. This invisible hand is pushing up the cost of an apartment, and down the cos

That arbitrageurs would find and exploit this loophole seems obvious in retrospect. This invisible hand is pushing up the cost of an apartment, and down the cost of a hotel room. What we need now is software that can find apartments for rent and people looking for a place to stay, offer to rent the apartment for a bit less than the owner wants and offer to rent it to the people for a bit more than they're looking to pay, pocketing the difference and doing this hundreds of times per second. This will provide "liquidity" and make the AirBnB market "more efficient".