Airbnb Screwed Up The Housing Market…And Is Doing Better Than Ever

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I’m sure you’re all familiar with the state of the current housing market. Home prices and rent are higher than ever and it seems like they’ll never come down despite high interest rates and increasing unemployment. One of the driving factors of this trend is none other than Airbnb which is quite ironic given that Airbnb was founded for the exact opposite reason. Airbnb was designed to help hosts earn a bit of side income and help guests get cheap local accommodations. But over time, Airbnb has turned into a luxury property rental platform and economics have fallen down the list of priorities for hosts and guests. This has also largely skewed home prices and rent prices. This video tells the story of Airbnb and how the company inadvertently screwed over the housing market and ended up doing better than ever.

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Timestamps:
0:00 - The State Of Airbnb
2:11 - Humble Intentions
6:07 - A Capitalistic Evolution
10:21 - No Solution In Sight

Thumbnail Credit:
IDuke

Resources:

Disclaimer:
This video is not a solicitation or personal financial advice. All investing involves risk. Please do your own research.

[Casey-summer]

I think it's time to make it more appealing for potential buyers. Real estate can be quite the rollercoaster! the stress and uncertainty are getting to me. I think I'll cut rents to attract potential buyers and exit the market, but i'm at crossroads if to allocate the entire $680k liquidity value to my stock portfolio?

[Linda.xing-tjfh]

Yeah, Airbnb's impact on housing is huge. With more properties being converted into short-term rentals, it's affecting housing availability and driving up prices.

[alienhead]

Air Bnb makes no sense because a hotel is cheaper 90% of the time and you don’t have to pay a dumb ass cleaning fee.

[ddwkc]

It's not a first time someone created something with good intentions and ended up creating irreparable damage to society.

[omarthecostar]

Airbnb has fallen out so much. I was an early user and would never use it now

[monteksingh]

Airbnb is the perfect loophole.
It allows you to do business on residential property with minimal requirements. This has fundamental issues.

[KRYMauL]

You either die a hero or live long enough to see yourself become the villain.

[JohnFraser-zccu]

Frustrates me endlessly since they have demolished home ownership and perpetuated real estate as an investment vehicle

[mariusfacktor]

Part of the reason AirBnB has so much supply is because many people have spare bedrooms to rent out. Why? Because classist zoning laws has made it illegal to build a small home in much of the United States. You heard that right. Small houses are banned in most of the land in most cities in the US due to arbitrary rules made up by idealist bureaucrats in the 1950s. So people today are forced to buy a large house they can't afford and they make up for this by renting out bedrooms with short term rental services like AirBnB. These same zoning laws have restricted housing growth too. So instead of there being enough housing for home buyers, renters, and tourists, all these groups need to compete with each other for the small amount of available housing. Scrap the classist zoning laws and you're more than half way to fixing the housing crisis.

[peregrination]

I thought I would dislike AirBnB because it's weird to be in a residential house that's not mine. But then I became a neighbor to some AirBnBs...when you never know who the strangers are, why there's suddenly noisy sports cars around, if you should keep your pets indoors because you don't know the temperature of the new animals brought in, or my favorite, you never know if the big dude on the street corner in a white tank and underwear smoking a cigar in a quiet, mostly nice neighborhood (small homes, but the location has made it so people who have moved in in the last 15 years have to have a cushy job, so it's a clean area), is a red flag that you shouldn't take a walk shortly before dark. AirBnB ruins the neighborhood.

[Arcticwhir]

airbnb was sooo good back in the day, much cheaper than hotels, amazing places. Now its much more expensive with fees and other costs.

[Jin]

Happy to say that I've NEVER used Airbnb.

[peterfmodel]

Hiring out an empty room made a lot of sense, but when you rent out a whole home or apartment is moved into a different, negative, zone.

[willg]

I work with a bunch of airbb owners on they're homes. Like being a hotel manager with none of the skills, training or experience required to be a hotel manager. Rental companies are the route it should be. It would be nice if airbb went out of business and I'm not even starting on the obvious evil they do..

[acctsys]

The solution, as odd as it may sound at first, is a declaration from the US government that there will be no bailouts to anyone anywhere anytime to any extent for any reason.

[hellzbellz]

damn near 300 houses in my local 50mile area are short term bnb rentals. and a housing crisis. big shocker

[Rudy]

if you are staying a week, or have a lot of guests then AirBnb or VRBO makes a lot of sense. The 1x cleaning fees gets spread over a longer stay. Not to mention that hotels tend to have parking fees and other fees that AitBnB doesnt have. Also with a hotel you have no guarantee where your room is in the hotel. Having options is a good thing. And .026% increase per percentage point is laughably small.

[Darieee]

the title animations are getting better and better <3 keep it up -- incredible content

[jwalk]

I was in hawaii when the fires took place. I could not get to my airbnb because of road closure. No help from airbnb. They called the host to get me a refund, and the host did not respond. Therefore, I never got any refund. Done with airbnb Hotel from now on. Airbnb just collects your money, and everything is up to the host.

[endless_puns]

They have the worst customer service. We had issues with a dodgy landlord who cancelled our reservation last minute after we'd already made plans and bought tickets to travel to a remote location with limited housing supply. It took 3 days to get a refund and they did not provide any compensation for the incredible amount of stress. Needless to say, I'll never use them again.