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Time to solve the housing crisis...
(lemmy.world)
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this post was submitted on 31 Jan 2024
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Taxing the owners will just cause the prices to go up to compensate, unless the tax is a very significant burden. Short-term rentals are way more expensive than long-term leases, and so they are much more profitable. A landlord can make three times as much money on airbnb as they would make on a yearly lease.
Yes, but when prices for short term leases are higher than the equivalent hotel stay, Airbnb landlords will lose money and potentially have to sell at a loss to someone who'll actually live there.
Exactly the point I was going to make, but much better explained.