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this post was submitted on 17 Jul 2023
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Not being argumentative, but according to public records this place is privately owned by a person (or family) who bought it in 1997 (not a corp or LLC). It was listed for rent 2 years ago at $3900 before being taken down a month later.
That’s why I see it as a parallel market. I have a hard time seeing how folks being hurt by crazy rent prices are affected by this home being on Airbnb, any more than (say) a shortage of Ferraris would affect the price of minivans.
That's entirely fair. I was making broad assumptions about ownership.
But it's all intertwined. That home's $3900/mo rent price 2 years ago is still indicative of the problem. Pre-covid that home would have been more affordable. The families that could have afforded it are pushed either to smaller homes or into rentals. Due to inflation across the board everyone's getting pushed down into smaller or otherwise less expensive housing, of which there is limited supply.