The Worst Housing Crash in 100 Years Just Started

It's interesting how things like Airbnb, co-working spaces etc, all came up as alternatives and wound up being worse than the competition

In my fairly small city, which is a popular tourist destination during the winter, Airbnb is having a detrimental effect on the housing market. Many people are buying apartments to rent them out short-term to tourists during the winter season, leaving these units vacant in the summer. This trend has led to increased apartment sale prices and higher rents, as the supply of long-term rental properties has dwindled. There's now a competitive market for the few available long-term rentals. Additionally, the tourists renting these apartments often show little respect for building residents, creating noise disturbances and improperly disposing of trash. Their transient nature means they feel little obligation to respect the community rules, knowing they will be gone in a few days.

The funny thing (in NZ anyway) is that hotels are now cheaper in some cases. I have a 3 day trip coming up. It was $900 for an Airbnb. Found a hotel that included buffet breakfast for $480.

Yet... masterworks is the sponsor. The disconnect it must take to make this video with that sponsor is staggering.

I remember when Air BnB started. At that time I was on Hospitality club and Couchsurfing, and Air BnB was presented as the same idea, but instead of staying for free, you paid a little (symbolic amount) to the host. It was still the same spirit though, locals wanting to meet travelers, show them around - and travelers paying with their company and stories to tell, pretty much...

It became the very thing it was supposed to fight against. My first airbnb stay was in 2015 on an air mattress in Chelsea. I got to explore manhattan on the cheap. Now airbnb owners act as if they're small mom and pop business. Begging people not to spend their dollars on corporate hotel chains. They took housing stock away from families and now want to act as if they're small business owners. I avoid staying at an airbnb now.

What gets me is that, they charge a "cleaning fee" but when you use it the owners expect you to cleane and leave everything exactly how it was when you got there. I left mine clean but I didn't clean the blankets like they wanted. You charged me a cleaning fee so you gonna clean.

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True story. I had rented a house for 10 years, on the 10th year the company (who owned and rented many houses in the area) had made the place next to me into an air b&b. I was shocked at how regularly it was rented, but eventually irritated by the increasing number of loud parties happening in what was a quiet residential area. I was further disappointed to find my next lease had increased by $200/mo. As every previous year had an increase between $10-20, my conclusion was that I had been priced out of the place i had called home for a decade so they could convert it to a new ab&b. I could either match what they could charge or gtfo. I gtfo.

I feel like governments need to ban airbnb accommodations where the owner doesn't also live at the premises. This would free up so much of these ghost houses.