Do you think that Airbnb is destroying neighborhoods throughout the US?
Last Updated: 21.06.2025 03:16
I think it is causing a housing crisis. Investors buy up single family homes for cash, which beats out anyone who would have to have a mortgage. Then they turn them into short term vacation rentals. You end up with strangers coming and going from neighborhoods, many which are usually quiet. It also reduces the available inventory of single family housing, which drives up the price. It forces people to stay in the rental market, reducing that inventory and driving up rents. If allowed to continue it will cause a housing crisis.
There is a bill that would be sponsored by a Democrat in the House which would make it illegal for investors to buy up large amounts of residential real estate, be it single family homes or apartments. Houses are for living in, they aren't for trading like stocks and they aren't hotels. We need to protect residential real estate or the homelessness that people complain about will become even worse. Unfortunately that bill can't even get to the floor in the current House session. We need to vote blue all the way down the ballot to see this bill even have a chance at becoming law.