So I'm inclined to ignore these numbers for anywhere having significant tourism.
So I'm inclined to ignore these numbers for anywhere having significant tourism.
Well now we head into a recession, airbnb demand falls, there is no cheap refi option, potentially concurrently with layoffs, so some people are going to be forced to dump airbnb inventory into a market with zero demand which os going to start creating supply bubbles.
I think these areas are most at risk in the bad recession scenario
My personal experience is in a low-density rural setting (near Joshua Tree National Park) where the park's tourism forms a substantial part of the local economy. But at least in my hood, which pre-airbnb was rife with dilapidated/abandoned ramshackle cabins and SFR homes low-income pensioners, artists, and tweakers would usually occupy, it's been completely transformative, displacing the locals and multiplying prices of anything with airbnb appeal.
But it's a hot-spot for tourism thanks to the national park. There's enough tourists getting stuck in the wash near my property to reach remote airbnbs in rentals via satnav I could open a towing business.
I don't think what I said applies to a run of the mill city where tourism contributes relatively little to the economy. You didn't mention anything in this vein about your city.
Go to your nearest city and look up the number of units available on Airbnb and then google the total number of housing units in the city.
I could see people just holding and waiting (which is what I think is going to be the main thing happening).
Why does solving this problem require killing or reeling things in? Why not make it easier to build cool hotels? I went to some city council meeting where building a hotel was discussed, and it all seemed very difficult to get a return on new construction at a reasonable price.