The End of Airbnb in New York::Thousands of Airbnbs and other short-term rentals are expected to disappear from rental platforms as New York City begins enforcing tight restrictions.
The End of Airbnb in New York::Thousands of Airbnbs and other short-term rentals are expected to disappear from rental platforms as New York City begins enforcing tight restrictions.
Huge. The short term rental housing boom is unlike almost anything we’ve seen before. Estimates put short term rentals as about 20% of the global real estate market.
If that demand drops rapidly, it will mark a major shift. Tons of buyers and capital will be wiped off the table.
I agree with the usual perspective that housing prices almost always rise over time. But this is an unprecedented event in scale, and if reversed, it will have unprecedented ramifications.