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The main issue with Airbnb is that a few companies own a huge percentage of the flats. It's a big, unregulated, industry without any responsibility that is driving regular hotels out of business and locals out of their neighbouhoods. Of course it has to end at some point.

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See my other comment. When 30% of the housing stock is short-term rentals that families cannot buy, it doesn't matter at all who owns them. Where I live, they are all owned by locals, but that doesn't remediate any of the issues short-term rentals cause.

Local, middle class owners can own how many empty flats? 1%? 10%? Of course I don't have a number, but I'd bet that if you remove the mega-owners, that 30% would drop significantly.

Airbnb was not a bad idea, but it has been perverted. It's time to regulate it and probably break it too.

Ownership class is all conjecture, but it really doesn't matter because all owners behave the same way. It's not as if local owners rent less, or charge less, or leverage their property less.

no it does not have to end. I mean to say, it is foolish to think you know how systems will play out over time. If the game rules are imbalanced then no one knows.

Sure, let it expand infinitely until it owns all real estate on earth

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