My dude. Go take econ 101. Supply and demand. If there are houses being sold to people that intend to use it for air BNB, then it is both reducing available supply, and increasing demand. When that happens , it drives up price. Families now have to bid against these investment chucklefucks. It’s not a scapegoat at all. The housing market has gotten to where it is for a variety of reasons including, but not limited to investors buying them for Airbnb. You can add in firms like Blackstone backed invitation homes also buying housing to be corporate landlords, the Fed keeping rates too low for too long allowing the people with the most assets to gain equity, and leverage themselves beyond what they’d normally do because money was essentially free for them. Add foreign buyers into the mix, and baby you’ve got a housing clusterfuck going. Our solution to everyone losing their houses in '08 was to let big firms buy houses and rent them out. No one can buy a house now, but man is the economy purring. If all these leeches lost their asses, and were forced to sell, we might return to affordability. Until then, you will own nothing and be happy.
My dude. Go take econ 101. Supply and demand. If there are houses being sold to people that intend to use it for air BNB, then it is both reducing available supply, and increasing demand. When that happens , it drives up price. Families now have to bid against these investment chucklefucks. It’s not a scapegoat at all. The housing market has gotten to where it is for a variety of reasons including, but not limited to investors buying them for Airbnb. You can add in firms like Blackstone backed invitation homes also buying housing to be corporate landlords, the Fed keeping rates too low for too long allowing the people with the most assets to gain equity, and leverage themselves beyond what they’d normally do because money was essentially free for them. Add foreign buyers into the mix, and baby you’ve got a housing clusterfuck going. Our solution to everyone losing their houses in '08 was to let big firms buy houses and rent them out. No one can buy a house now, but man is the economy purring. If all these leeches lost their asses, and were forced to sell, we might return to affordability. Until then, you will own nothing and be happy.