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re: Maybe we can solve that housing inventory issue by killing AirBNB
Posted on 10/6/23 at 8:14 pm to MyRockstarComplex
Posted on 10/6/23 at 8:14 pm to MyRockstarComplex
quote:
But is that issue unique to tourism destinations? Houses are still flying off the shelf north of Atlanta and the AirBNB inventory is sparse. Granted, this bubble goes bust when recession hits and middle managers are cut.
The major markets will be hit harder because they have the most Airbnb inventory and the most price appreciation, but no market will be immune to it.
Many investors bought homes to rent at thin margins with little equity down, assuming debt pay down and appreciation. Costs to own have increased, bookings are way down. This will continue to increase with more govt regulation, and less travel as consumers are tapped out (see rising credit card and defaults). The recent surge in google searches for “sell my Airbnb” is crazy.
Based on Airbnb to for sale ratio, if just a fraction of the Airbnb assets are listed, it will cause a massive disequilibrium in supply/demand and massive drop in values. Buckle up.
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