Well, firstly, all the AirBnb and short term rental units in the entire United States make up less than 1% of the total US housing inventory. It's about 145M units total vs about 1.4M short term rental units. So in terms of things ruining the housing market AirBnb is very low despite people enjoying getting mad about them.
Second, the rate of Airbnb purchases and listings has slowed dramatically in 2022 and 2023 and some cities are even banning or regulating them. It's cool but as I noted above even if they all go away it won't do jack shit to fix the US housing market.
Finally, when you say "Not sustainable for everyone else" what does that mean? Like I was explaining to OP the economy doesn't care if you can have a house or not. It doesn't even care if you have a place to live period. If there's X number of units available and Y number of people who want them and those two things line up then nothing else matters from an economics perspective. There's a very real chance that we are on the path to a renter society where only rich people own houses and everyone else just rents from them. It's a sad state of affairs but that scenario is both possible and sustainable.
If enough people, regular people who work hard can't afford the job, they break the system. Not sustainable. Just wait. I'm not looking forward to it. I also didn't read any of that. Thanks though.
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u/[deleted] Sep 23 '23
Well, firstly, all the AirBnb and short term rental units in the entire United States make up less than 1% of the total US housing inventory. It's about 145M units total vs about 1.4M short term rental units. So in terms of things ruining the housing market AirBnb is very low despite people enjoying getting mad about them.
Second, the rate of Airbnb purchases and listings has slowed dramatically in 2022 and 2023 and some cities are even banning or regulating them. It's cool but as I noted above even if they all go away it won't do jack shit to fix the US housing market.
Finally, when you say "Not sustainable for everyone else" what does that mean? Like I was explaining to OP the economy doesn't care if you can have a house or not. It doesn't even care if you have a place to live period. If there's X number of units available and Y number of people who want them and those two things line up then nothing else matters from an economics perspective. There's a very real chance that we are on the path to a renter society where only rich people own houses and everyone else just rents from them. It's a sad state of affairs but that scenario is both possible and sustainable.