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Comment by ThomPete | Hacker News Reader

I can say as someone who moved to New York two weeks ago and hoped that AirBnB would allow me to find a good temp place that i feel pretty critical towards the experience.

The prices are insane. I paid 3300USD for a shitty studio in China Town for a month.

I am ok with paying a lot of money for a place and I know NY well enough to know it's expensive.

But people who get only profit from subletting and pumping up the prices by a factor 2x-3x should not be allowed onto the platform.

Of course Airbnb don't really care because they get a percentage of the transaction.

So great idea but pretty shitty service at least in NY.

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Out of curiosity, would it not have been cheaper to stay in New Jersey and take the NJ Transit or Path? If you could, then your options for low-cost AirBnB or short-term sublet are much expanded.

I know, it's not the same as living in the city, and perhaps you wanted that experience as well. But not sure if the Chinatown Studio gave you the experience you were looking for.

I am here on an O Visa so I am here to work. I wanted to stay close to the office in the beginning until I found a proper place.

Hopefully I found that yesterday :)

Will have to get approved (again an issue when you don't have credit history as the US works opposite of Denmark in that regard)

Well there are places on Craigslist you probably could've found cheaper in Chinatown of all places. But studio apartments in general are expensive in a place like

Secondly, Airbnb does have plenty of shared places in Queens and Brooklyn that go for less than seventy bucks a day, and studios that would be closer to 2k.

The thing is. right now I am looking at a 1BR appartment completely modern building, rooftop, open kitchen the works for 3600USD.

There are many places on AirBnB that have simply pumped up the prices to make a living and since there is not negative feedback mechanism everyone just charges more and more.

Craigslist yeah i tried that, i enden up with mostly scams and bait and switch guys.

It's called capitalism. You're paying for the convenience of not having to wait to move in, not having to sign a long-term lease, etc. Of course you should expect to pay more than someone who puts up with those downsides.

It's inconsistent that is what it is.

No, it's not. Do you really not understand how basic retail economics works? Are you expecting someone to buy high and sell low?

As you yourself proved, if people will pay it, that's what the market rate is. Think it's extortionate? Don't pay it and make other arrangements.

Whats up with the attitude?

This is not a guy who buy high and sell low. This is a guy who have a room in his own apartment where he cramped a kitchenette in and call it a studio (not mentioning that)

Since I couldn't go and see it before where does that leave me?

You are assuming that I had sufficient information before I moved in. I didn't.

Housing in NYC is expensive. Frankly, it's like whining that Porsche won't sell you a 911 for Miata money, and that furthermore, the car rental agency charges the equivilant of a monthly payment for just one week! Stop the presses...

I have no problem with expensive apartments. I paid 12K a month years back. That was fair.

This is just not fair pricing and is taking advantage of the situation that once you are there it's too late.

That has nothing to do with capitalism or retailing.

It has everything to do with it. Supply and Demand, etc. "Taking advantage" is a moral term. A capitalist would call it "leaving money on the table".

There is no such a thing as a pure capitalist unless you are claiming that there are people without any moral what so ever.

You are trying to separate two things as if that's possible. It's not. In language yes but in reality no.

I was not given all the information.

> and since there is not negative feedback mechanism everyone just charges more and more.

There IS a negative feedback mechanism. Occupancy rates. Once people stop paying the asking rates for listings the prices will fall. It is called "what the market will bear".

You can't compare AirBnB to an apartment rental, especially in NY where two months down is not uncommon. Seems like it's more appropriate to compare it to a hotel room... in which case $110 a night is a steal.

For 110, in a hotel, I get cleaned every day, breakfast and I don't pay until I leave and I don't pay a deposit.

With AirBnB i pay 500USD in deposit, pay on arrival, it gets cleaned when I move out. Everything else is on me.

And I can compare it because I stay there longer than just a few days also AirBnB now have a sublet section. Again go compare those prices with for instance the prices on streeteasy.

That's probably just a supply and demand issue. Those sorts of profits will attract other folks to let out space and bring prices back into line (assuming of course they can sort out all of the issues above)

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