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Airbnb bookings dry up in New York as new short-stay rules are introduced
(www.theguardian.com)
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this post was submitted on 06 Sep 2023
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the early days of airbnb was basically this concept.
they didn't start out as a marketplace for unregulated hotels that destroy housing markets. that didn't happen until after they started cashing checks ~~venture~~ vulture capitalists.
So many people forget this origin. Air mattress in your spare room (in SF), iirc.
As much as I, personally, prefer a house when away - either with the family or as a couple - this is one of the drivers behind the crunch in housing. People can’t possibly afford to by a place to live when the competition is a wanna-be property “entrepreneur” who is going to get 2-4x market rent by doing short term rentals.
Originally my mum moved my brother and I into the same room and rented out the empty room for $40 a night. The cleaning fee was $20 and we still cleared $2,000 in one summer.
My brother and I each got a 5% cut and we bought ice creams from Safeway every day for a week until we got wicked stomach aches
I believe it since that's how actual BNBs work.