Investment companies, foreign buyers with loads of money, they buy house and list them as airbnb. If it’s the case, we need to remove Airbnb
Fannie Mae is the reason housing is expensive in the US. 30 year mortgages at artificially low interests rates increases value of homes. The other stuff is just scape goating or regional phenomena. Many countries don’t have this program. Denmark has a good solution. Stuff like this is often the root of major problems in the US, but too technical or far removed for people to understand and political suicide for any elected official to challenge. This and corn subsidies
This.. Only correct answer.
In California, stupid rent and eviction controls are the reason for shortage of housing.
How so?
Pretty sure it’s actually people sitting on homes and the fact that they don’t pay taxes until sold. 1in 10 homes are vacant on average
we let in 4 million illegal immigrants per year to boost democrats electorate count. they all need housing
15million vacant homes and people wanting to work should make everyone $$$
Airbnb will die out soon enough.
Only if governments forbid the usage of it.
Which aren’t they doing? So many places I was looking to buy a home to do Airbnb had so many laws, and many outright forbade it.
Airbnb is not a ton of housing in absolute terms but for instance it's 5k units in Seattle. If someone ran for office promising 5k units with YIMBY magic you'd assume they were lying to you but banning Airbnb would do just that. Additionally hotels are the densest housing we make and it's not close. Letting people replace them with single family homes is just idiotic in the middle of a housing crisis regardless of the precise numbers
I know in San Diego only 1% of the housing units can be licensed for short term rental and we have not reached the limit yet. 1% is not going to change anything realistically. In a short term heavy market, banning Airbnb can shake up housing for locals but usually there are many jobs supporting tourists/vacationers that they would rather keep it to some degree.
A lot of places already are getting rid of Airbnb.... But depending on where you are it probably plays little impact. Bay area for example, not getting gobbled up by Airbnb ...it's desperate homebuyers with a shit ton of wealth.
Investment companies have been buying up all the supply since the early 2000s. It’s not going to stop
4m vacant homes being sat on for appreciation and 3m people looking to buy.
Source
If that's the problem, the correct solution is to build so much housing that the housing market is overwhelmed and there's no longer enough demand for Airbnb to fill all the houses.
lol
Why don’t you build some houses and show how it’s done?