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Easily. I know at least two people clearing $100k/year by being 'airbnb slumlords.' Real estate agents are keeping apartments off the market and renting them ou
by hammerzeit 13y ago
Easily. I know at least two people clearing $100k/year by being 'airbnb slumlords.' Real estate agents are keeping apartments off the market and renting them out as hotels.
Airbnb is clearly forcing a convergence between hotel prices and rents. This doesn't just mean forcing hotel prices down, it also means forcing rents up.
I wish the tech community could stop reflexively defending airbnb and engage with the question of what the costs it is imposing are or might be.
- deleted 13y ago[deleted]
- jseliger 13y agoAirbnb is clearly forcing a convergence between hotel prices and rents. This doesn't just mean forcing hotel prices down, it also means forcing rents up. I responded to this issue here: https://news.ycombinator.com/item?id=6657242 https://news.ycombinator.com/item?id=6657242 , but the short answer is to build more units. Building the Second Ave Subway, extending express bus service, and doing similar things would also be helpful.
- riggins 13y agoI agree that the way to deal with increasing rents is to build new buildings. In fact, I think that is probably Bloomberg's greatest accomplishment. He made it much easier to develop new buildings which led to a boom in development.