I can give you an example.
A cheap-to-rent apartment in a central part of an old popular city in Europe, is now a pricy Airbnb.
This means that students, young families, people with lower income have to move out of a suburb they we born, studied, have friends, etc. And now have to find a place elsewhere on the outskirts, where tourists don't want to go.
This is apart from arriving at your buildings front door and having some stranger stand behind you while you turn the key.. a very irritating situation.
Airbnb makes the problem 10-20% worse, but almost no cities are building net positive housing compared to their growth. People getting priced out will continue to happen with or without Airbnb, until cities take housing seriously and build more.
I think the idea that that apartment was cheap-to-rent is likely a stretch. It was likely a middling apartment that got upclassed. Low income housing in the bad part of town doesn't really show up on Airbnb.
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I can give you an example. A cheap-to-rent apartment in a central part of an old popular city in Europe, is now a pricy Airbnb.
This means that students, young families, people with lower income have to move out of a suburb they we born, studied, have friends, etc. And now have to find a place elsewhere on the outskirts, where tourists don't want to go.
This is apart from arriving at your buildings front door and having some stranger stand behind you while you turn the key.. a very irritating situation.
Airbnb makes the problem 10-20% worse, but almost no cities are building net positive housing compared to their growth. People getting priced out will continue to happen with or without Airbnb, until cities take housing seriously and build more.
I think the idea that that apartment was cheap-to-rent is likely a stretch. It was likely a middling apartment that got upclassed. Low income housing in the bad part of town doesn't really show up on Airbnb.