AirBnB is not the cause of housing scarcity, the under building of Hotels to meet short term stay demand, or the economic conditions that facilitate a lot of travel. If it weren't for AirBnB other players in the short term rental business would likely ave moved into the same niche.
And the price is probably a really good signal of unmet housing demand, which has (probably) caused a lot more units to be built than would have otherwise.
which has (probably) caused a lot more units to be built than would have otherwise.
You would think so, but in the US's tightest property markets its basically impossible to build new housing due to some combination of zoning, local review boards, NIMBY activists, and onerous environmental regulations (thing will this increase school demand not will it spew toxic waste).
Comments
AirBnB is not the cause of housing scarcity, the under building of Hotels to meet short term stay demand, or the economic conditions that facilitate a lot of travel. If it weren't for AirBnB other players in the short term rental business would likely ave moved into the same niche.
And the price is probably a really good signal of unmet housing demand, which has (probably) caused a lot more units to be built than would have otherwise.
You would think so, but in the US's tightest property markets its basically impossible to build new housing due to some combination of zoning, local review boards, NIMBY activists, and onerous environmental regulations (thing will this increase school demand not will it spew toxic waste).