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It's worth noting that Air BnB has changed the value of homes.
Meaning homes are being bought up and hoarded to serve as rental properties, so if you want to buy a home to actually live in, the supply is decreased, and therefore prices go up? Or did you mean something else?
I wouldn't say "hoarded" since they're actually being used, but yes that's what I'm talking about. The utility of homes has increased, because of a new use for them. That's a demand increase.
Cool, makes sense. Thank you!
All it takes is squatters to blow up this model
By how much? 10 percent? 100 percent?
In the aggregate, I have no idea. I'm sure someone's published something about it.
Anecdotally, the small town I'm from has skyrocketing real estate prices, because any available home gets converted into an Air BnB. I'd say it might be 100% above what it would otherwise be. Where I live now is almost certainly closer to 0% above what it would otherwise be.
My point is the Airbnb factor is cyclical not permanent. I would never buy a place where Airbnb is prominent in the neighborhood
It's worth noting that Air BnB has changed the value of homes. Obviously, that's more relevant in certain markets, but there are communities that are largely morphing into Air BnB's.