How Airbnb Broke Housing in America 

If anything, it'll get worse. Very soon, affordable housing will no longer be affordable. So anything anyone want to do, I will advise they do it now because the prices today will look like dips tomorrow. Until the Fed clamps down even further, I think we're going to see hysteria due to rampant inflation. You can't halfway rip the band-aid off.

Home prices will come down eventually, but for now; get your money (as much as you can) out of the housing market and get into the financial markets or gold. The new mortgage rates are crazy, add to that the recession and the fact that mortgage guidelines are getting more difficult. Home prices will need to fall by a minimum of 40% (more like 50%) before the market normalizes.If you are in cross roads or need sincere advise on the best moves to take now its best you seek an independent advisor who knows about the financial markets.

I will be happy getting assistance and glad to get the help of one, but just how can one spot a reputable one?

Certainly, there are a handful of experts in the field. I've experimented with a few over the past years, but I've stuck with ‘’Sophia Maurine Lanting” for about five years now, and her performance has been consistently impressive.She’s quite known in her field, look-her up.

I am on her website doing my due diligence. She seems proficient. I wrote her an email and scheduled a phone call. Thanks for sharing

Well, it's too late for that and the properties they already own are not going to just be handed over to the people.

@@07Flash11MRC Politicians can force them to sell

​@@07Flash11MRCthat's just 1 or 2 laws away if people really wanna do it I will remind you that the US was once just a colony, and a piece of paper signed by people living here changed that

@@LudwigVaanArthans "that's just 1 or 2 laws away if people really wanna do it": Oh, I know. Look around though: Most people aren't ready to seize property from cápítàlì$ts.

​@@07Flash11MRCNah, some of us like to keep possibilities in mind. NYT said slavery couldn't be abolished and that flying machines were impossible.

It’s getting wild by the day. The prices of homes are quite ridiculous and Mortgage prices has been skyrocketing on a roll(currently over 7%). Sometimes i wonder if to just invest my spare cash into the stock market and wait for a housing crash or just go ahead to buy a home anyways.

I get such worries too. I'm 50 and retiring early. Already worried of the future and where its headed, especially in terms of financies and how to get by. I'm also considering making my first investment in the stock market, but how can I do so given that the market has been in a mess for the majority of the year?

The market is not necessarily a rollercoaster if you know your way around the market, there are various opportunities in the present market to accrue good profit, If you are not too savvy with the market, just buy and hold on strong companies with good earnings, or consult with advisors on ETFs and actively managed funds.

@@hasede-lg9hj Could you kindly elaborate on the advisor's background and qualifications?

I won't pretend to know everything, though. Her name is Annette Marie Holt but I won't say anything more. Most likely, you can find her basic information online; you are welcome to do further study.

Would you like a little tobasco with your carbonized free range fowl? (Sorry, that costs extra... Commercial real estate is so high)

Yeah at the end I was like “wtf $800 dollar a month increase that person should go to jail”

@@mccomasd that's the state of housing in America. the NIMBYS won the battle of making houses an investment asset

​@@TheGimpy117NIMBYs aren't bankers, thank God.

Not true, airbnb still cheap. Rather than giving money to greedy corporations id give to a family trying to make a living by renting out portion of their home. So shutup

@@Deo.345 lots of hotels are family ovned business. Corporations buys homes and turn them short or long term rentals all over the country. Which is the main reason housing became unaffordable for people. Thats what data shows. So. Shut the f up if you have no clue what are you talking about, expert...

​@@Deo.345 Part of the problem is knowing if a corporation or family owns the property. There is no transparency on that. How is someone supposed to know?

Depends on what experience you want. The hotel experience doesn't really give a vacation vibe, meanwhile staying in a private house with a pool, fully furnished is way more attractive.

This is true! Often I have chosen a hotel over an Airbnb because the hotel was the same price or less and I know what I am getting without the "rules" (such as having to take my shoes off and being in by a certain time) that go with an Airbnb.

.. and when it's NOT rented, it's a tax advantage. "Oh, my, I'm losing money!"

Actually, my wife and I cut our tenets rent in half when we get the mortgage of their place paid off. Not all land lords are evil.

​@@Newa113 most are though

Im done. When and where? Actually ill get started and we meet in the middle.

jesus christ you just changed my entire perspective. your so insanely right.

Buying property to rent isn't bad, its the returns in excess of the capital invested in the improvements that are unearned. To fix this, just tax land at 100% and distribute the proceeds after paying for the governemt to all citizens equally. Bam, no more property specualtion, no more income tax, no more sales tax, no more poverty. Georgism is the only jsut way to run a economy.

You mean the "unwillingness" of the government to regulate anything . . . .

@RC-fi4ixSure but housing has never been this unaffordable for people. I make 6 figures and can’t afford a home. Keep licking those boots and cheerleading the dismantling of the middle class bud 👍

Good for the Citizens!!!

Citation to proposed law on Scotland please

​@@LReno-di9cmyou can use search engines to find info

That was my thought as well

And it doesn't help that the cleaning fee is usually almost the same as or double the price of the bnb. Pure greed.

@AngelicaAngel111 exactly. Easier to just stay at a hotel now to be honest

Yep, exactly. No intervention needed.

Seriously tho. It was essentially the same price last time I was looking. Makes more sense to get a hotel.

We haven't replaced the million Americans who have died from covid, with all of the immigration since covid started. Notice a common factor in news about immigration fear stories... They never, ever mention the actual number of people.

@RC-fi4ixyou think immigrants can afford homes 😂😂😂😂😂

​@RC-fi4ix how many rich white CEOs are going to prison?? You know, the ones that perpetuate the situation that's going on. The problem will not be solved until rich white CEOs that donate to both parties go to prison... But that will never happen so we conveniently have a boogeyman every election season. And we also have a class of people that come over to pick the food.... Then you realize the system is working exactly as it was designed.

A lot of that “housing” isn’t actually habitable. It doesn’t take long at all for an uninhabited home to become uninhabitable. I saw a video about an organization taking such homes and fixing them up with the help of the future owners for just the cost of materials; donations paid for the original buildings, and all the labor was donated. Seemed like a good idea! 👍

@RC-fi4ix I know right.. all these Canadians sneaking over to use our for-profit healthcare.. _Disgusting_

Okay, I'll bite - what organization do you have in mind exactly?

@@Sheseasyouthere I'm asking the question because I seriously do not know the answer. Don't jump to conclusions.

@@Sheseasyouthere I like your first response. Thanks for the explanation.

@@vivalaletasomething like a citizens lobby, that way the people can bribe politicians just as companies do

The best thing you could do for working people is rasie taxes on land, and coincidently lower income and sales taxes. Taxes on land only hurt land owners, mostly rentiers. It reduces the profit that landlords can make to be solely the return on investment made on improvements, rather than being able to extract the raise in value of the land over time. Georgism is the only fair way to tax.

Better yet, ban third, fourth etc homes and tax passive income.

Maybe tax investment homes higher. I inherited a second home (my grandparents land and it’s a small hobby farm). I let a family member live there for free. I shouldn’t have to pay higher taxes on it because of greedy people buying homes for investment purposes. Let’s not f over regular folks.

@@RextheRebel realistically US corporate owned congress wouldn’t consider for a second. But maybe using your argument as an extreme position and then getting tax penalties on investors might work.

@@Iluvchknz I agree with you. If you have family living there and it is not an income property, then no increased tax. But we have to reduce the homes the rich hold for profit. Some buy and hold and don’t rent out. Holding inventory also increases prices.

No, let people be free, just tax land at 100%. Georgism is the only fair way to tax.

EVERY private citizen can and should refuse to do so, people (not corporations) have the right not to incriminate themselves.

​@@David-uf9qm corporations have all the same rights people do. Citizens United declared that

​@@mrtacos705And none of the responsibilities

@geekfreak618 This is an insane story. It’s just amazing what you can get away with when you do it in a suit.

​@@mrtacos705Overturn Citizens United. Corporations are not people.

There is no such thing as a good landlord. A landlord extracts value by profiting not based on the inventsment of capital into improvements, but from the raise in the value of the land they own over time. This value is created by the community, not the individual, as such they steal this value form the community when the value of land is not taxed away. Georgism is the only fair way to tax.

@@RavenMyBoat there are certainly better and worse landlords, and I do not hate the better landlords, but yes, landlordism is inherently immoral.

The crazy part is that it literally is greed on both sides.

Your a financial fool if you think renting is a way of life. You must do everything you can to purchase a home, make this your top priority and then learn how to take care of it.

​@@petebusch9069who do you think you're talking to, no one is saying what you are arguing against

This was me for the last two years. I ended up going from airbnb to airbnb because I couldn’t find anywhere anyone would let me live. My only option was to finally beg a family member to sign a lease with me at 39 years old. I make a decent living, but my credit got ruined in a second with covid income losses. I don’t want to scare you, but it really is this bad, and I wish I had asked for help from anyone sooner. I tried to make it work on my own for way too long and almost didn’t survive. 😞

They want you to live in corporate owned apartments that raise the rent every time you renew a lease.

@@InternetUser._ they doubled my rent in 2022 and I ended up homeless because of it. I am one person. I cannot afford $3800 a month.

In the ghetto’s

I can relate

Exactly. Happened to be looking at a job post the other day in the Lake Michigan ish area, sort of a summer vacay/resort area I guess, and as I normally do before wasting my time tailoring a resume for a job I’d be relocating for, I glanced at the apartment hunt websites for that area. There were four results WITHOUT my ‘in home laundry’ filter. Three of them would only be available until about May, so about two 1/2 months from now, when peak short term rental season commences there. So, while the places were relatively reasonably priced compared to where I am now, what exactly would you do once you’re forced to move out in favor of the vacationers? Hope to find something else in the area that’s affordable, available, and not going to boot you again when the season changes? The ones that came up weren’t even all that close to where the job would be, so 20min MI winter commute eventually, on top of housing uncertainty. Needless to say that job posting was closed all too quickly.

I just moved to the Smokies for a new job at a resort there. This is so true, so few houses to buy because they all turn into short term rentals.

And I’ve even been in the situation where I’ve tried to ask if I could rent long term from any of these Airbnb hosts when I was trying to find a place to live. They wouldn’t let me rent unless I paid up front in full. I was paying month to month, and they would kick me out whenever someone else would book for a weekend. It was horrifying.

Yup. I am right smack in the middle of Disney & Universal Studios. The only long term apts (new or not) are luxury. There are only 2 rent restricted complexes. The waitlist all around Florida is 2 yrs. They won't even open up section 8 vouchers.

That’s fine. You’re not entitled to live in a ski resort on someone else’s property. The problem arises when suburbs of major metro areas have home and rent prices double in 4 years and they have more Airbnb listings than MLS listings. It’s proof that the market would be cheaper and more competitive if there was no AirBnb. You don’t need to rent in aspen. You might need to rent in the woodlands Texas or palm beach Florida or Dayton Ohio. Those are job centers 🤷‍♂️

Oh hey the video is literally about the Hudson valley region. I… really should’ve seen that coming.

congrats

I used Airbnb but I stopped because I realised that by using them I was depriving ppl of a home. I now stay in hotel apartment when I travel. They are same price and don’t have all the crazy rules and cleaning fees.

@@dianacasey6002Can you please expand what you mean by hotel apartment? Do you mean like Extended Stay types? If not, how do you search and find them? I typically liked Airbnbs bc there was a real freezer, fridge, and microwave. But if there’s an alternative, I’m willing to try it

@@hynnow18 I suppose it depends on were your from, the Sunshine Coast and many other Australian holiday destinations have complexes that have always been hotel apartment’s not private accomodation. They are excellent and there is no funny rules and key problems. I don’t know about other places sorry if this doesn’t help.

Indeed, there are "apart-hotels" for those who say that they cannot stay in hotels because they have kids, need kitchens, etc. I stayed in a similar location, but as I was 1 person I chose a room. It was with a kitchenette, fridge, a desk for work and high-speed internet. There was a bigger communal kitchen in the building, if needed.

I will never stay at ABNB

This is the real story, this nation has a dire housing shortage and people who are being proved out of where they want to live are outbidding people living in less desirable areas. The solution is to build more housing and get rid of any unneeded laws or regulations preventing the building of new housing

So issue a bond and build some?

The problem here is often zoning restrictions. If there is demand, people will want to build higher density housing. Another major barrier is the lack of land value taxes allowing land speculators to keep land unused because it is sufficently profitable to hold the property until the land becomes more valuable. This is the problem that georgism addresses. Georgisim is, imo, the only fair way to tax.

That's literally why you shouldn't live in a tourist town. Maybe don't live there? I know for a fact you could move somewhere else and instantly have more value for your dollar. Stop blaming people for your lack of ambition to make your life better.

@@rickwilliams967 You assume a lot. Maybe she has a business that caters to tourists, maybe she's lived there for 25 years. Nothing says she has a lack of ambition. Affordable housing should be a concern for everyone.

They have just done the same in Denver, Co. Everyone is trying to have the laws changed for AB&B’s, even Congress is trying to pass a bill on it!!

That shit hole city doesnt have a handle on anything. Piss shit, homeless and opiates. But hey, at least they limited Airbnb

Market restrictions like this, even if they seem like a good idea, usually just cause market inefficiencies. If some one owns a unit and wants to rent it to someone forr a short time, why shouldn't they be able. The free market is a good thing. The predatory nature come in the monopolizatino of land by land owners. As long as the value of land is taxed away, let the owners do as they wish with the land so as to maximise the ability of the free market to maximise value. The LVT to properlly compensate society for the land kept from their use.

I just rented an airbnb in portland..single family home. Owner did not live there..always a loop hole

@@RavenMyBoat, You're braindead.

Only you are. Airbnb is still cheaper n keeps greedy hotels in check.

holy fuck your right

@@Akac3sh 😊😊

I mean sometimes they come stocked with food. Or if you rent just a room I'm sure the host would have breakfast with you 🤷‍♀️

@@gabbycurtis6965 awkward, but I guess that is breakfast

@@michah321 I mean traditional bed and breakfasts are kind of awkward too.

Yep. Biggest crime spree in America right now.

That is a misconception. I've been a host for 8 years. Nothing you said Is true about mine or the other 300 in the area. 100s of thousands of people live in my area, the 300 Airbnbs are not making even a small dent in home prices or lack of affordable housing. That is figured by interest rates, and the lack of houses being sold. My sister has a 3.5 Interest mortgage rate she does not want to sell and take on a 7.5 rate. Thete are so few houses for sale because of that reason that the ones that are for sale are being price Inflated because there are so few for sale people who need a house are willing to pay the price

Absolutely

I oppose HOAs as deeply criminal vile entities however I understand what you're saying. These Airbnb host / owners should definitely not be above local law.

Don't bother quoting HOAs, that's like using Satan as an arguing authority

Love of money is the root of all evil, and all that. 😬

Greed, pride (status), gluttony, and envy are the true roots of evil

@@MrStark-up6fi I like how you clarified right off specifically pride as status because there's also pride in accomplishments which isn't toxic. And you're right, all these things are enhanced forms of selfishness, which absolutely does hurt everyone around them.

The current model very much is win/lose and that's why I don't support it. There's no reason why everyone can't benefit at the same time. I'm not saying everything will be perfect that's impossible but I literally see no good reason why all business transactions shouldn't be required to be win-win & all workplaces shouldn't be required to be win-win and meaningfully participatory. Imagine the benefits this would bring to society if we had a simple paradigm shift. What's wrong with a value system that demands that everyone benefit? I mean why are some people entitled to "win" but because, I don't know, the universe doesn't like them or they're less worthy or they're the the wrong race or color or ethnicity or class, others are just "born to lose" and they just have to suck it up and accept it? No way that is not my value system I'm not going to accept that. And for some people that can't seem to get it, it doesn't mean that we're all going to live like rock stars or everyone's going to have the exact same level of wealth that's impossible and I wouldn't want that, it's that the fundamental business model needs to switch from win/lose to win/win, same as the workplace, whether you're in the public or the private sector. There is no reason why everyone can't meaningfully benefit from a particular arrangement. In fact in my opinion, it's not an ethical arrangement unless everyone does meaningfully benefit. Maybe some will benefit a little bit more than others that probably can't be helped but there's no reason why everyone's basic interests can't be looked out for, this includes the public's and our communities' (our collective health and our physical environments) I don't need to go too macro but just imagine if we had a positive mindset towards other countries instead of an exploitative one but that's getting into a bigger political issue. But you all can see where I'm coming from.

That's capitalism

That's exactly what I'm writing my book on. We demolished monarchy just to have a new name for it under capitalism

@@leeannarose6384 exactly.

@@YourCapyFrenBigly_3DPipes1999 well said!

Not anymore. And as we get older and need things to be more accessible, hotels with elevators or first floor accessible rooms are much better for us.

@@TamarLitvot that makes sense. But I trust regulated hotels over people's houses any day

@@michah321 I agree. And also I've heard that it really hurt the unions in Hawaii when the AirBnB and VRBO etc took off and the housekeeping people ended up being contract employees with no benefits.

@@bernadetten.8751 in that situation I could see it.

Market freedom is a good thing. People should be able to serve markets. Jus ttax land and do zoning reform to allow denser units and more mixed use. That will fix the problem and allow more freedom for people to do as they wish with their land.

No it won't since hotels are shit expensive. Look at whats happening in nyc after banning bnb. Hotels greed shoot to another level

That’s not smart at all that will make it hard for people to become wealthy . Also more Tax’s less money for you it always goes down to you never forget that

Many ABNB listings are already as or more expensive than their local hotels. And people still book them, though it has discouraged some.

Wow that is shameful. You should not be going through that right now. For such a long-standing tenant shame on your landlord for not working with you. They don't appreciate any goddamn body. Without rent control this problem will just continue. I don't mind landlords making a reasonable profit but I know they're going way beyond that. They should not be able to set the cost of rent!!! Absolutely not! City leaders complain about homelessness but do nothing to make sure people can stay in their homes. The public management in this country is broken. Maybe you guys can swing an extra $50 a month but not 200! Perhaps you should ask them if they'll work with you. But if they won't, shame on them. You deserve more appreciation for being a steady dependable tenant for 13 whole years. Rent increases on existing tenants should be very limited. People's incomes rarely change meaningfully. No one should be priced out of rent. If a LL wants to charge more to new applicants fine but existing tenants deserve limits. People shouldn't have to uproot their whole life just because they can't come up with a significant rent hike, especially if that person is low income. There should be protections against that.

Not sure. It feels just like the NIMBYs that are in any town. There are a few too many holes in the arguments against Airbnb. The problem predating before its inception is already indicative of gentrification happening around the country. The tone of the video sounds like it needs a punching bag for the first thing that comes to mind. If it isn't a short term rental it will be a luxury apartment, if it's not that; landlords will raise rent because there is an influx of attractions or the area has been gentrified. There's a larger issue outpacing just a housing shortage

@@devonforsure260 I always judge it by the advocate of a policy showing me where the policy has worked. If there policy was fully implemented and it did not do what they say it should, then the policy is baseless and they should stop pushing it. Candada has tried foreign ownership bans... that failed. Many cities have essentially banned short term ABNB rentals and it has not done anything for anyone. These issues lead me to believe that the whole issue is a scape goat for other bad policy.

i think its on the hudson river and its located in the hudson river valley which is gorgeous. Maybe they stay for cheap in newburgh and get to explore the other towns on their vacation or go to event/attraction in the area. its aimed at people stuck in apartment boxes in NYC metro and want a cheap 'getaway' weekend

Show up to your city council meetings, ask them to ban airbnb

Show up to city council meetings, push for Unions buying homes, rent them out at lower rates.

Taking more potential housing off the market? Why? That would only benefit competing real estate speculators.

The business model of hoarding homes, driving the biggest bubble in history and trying to extort people to live cannot go without very nasty consequences.

just wondering about the 10x price increases...you lived there 40 years ago, so it makes sense that things have gotten more expensive. It's inflation. Are you glad you moved or do you think it is still a good place to live?

@@goldbrick2563 I'm not the best person to ask since I didn't like it enough to stay there, then. I was transferred to New York from the west, and after < 2 years jumped at the chance to get away from the east coast.

It’s rough out there, and getting rougher. 😔

This is why renting is a losers game in many cases, if you are planning to be in one place for the long term and you can afford it owning is preferable

its cheap and close to nyc.

Not true. Stop spreading misinformation. You will still use bnb despite all wining 😂

A recession as bad it can be, provides good buying opportunities in the markets if you’re careful and it can also create volatility giving great short time buy and sell opportunities too. This is not financial advise but get buying, cash isn’t king at all in this time!

On the contrary, even if you’re not skilled, it is still possible to hire one. I am a project manager and my personal portfolio of approximately $750k took a big hit in April due to the crash. I quickly got in touch with a financial-planner that devised a defensive strategy to protect and profit from my portfolio this red season. I’ve made over $350k since then.

@@hunter-bourke21I'm actually interested in this idea of investing through an analyst. Sounds like the most sensible thing to do in the market right now. Could you give me a pointer to who you work with, please?

Definitely! All of this happened in less than a year after *Izella Annette Anderson* told me what to do. I started with less than $100,000, and now I'm about 17,000 short of having a quarter million dollars.

Thank you. I will search on her site online and do my due diligence. If She seem proficient. I write her an email and scheduled a phone call

Certainly they're part of it

Its almost as though people that can't afford to rent or own a home also couldn't afford to fix up an unlivable house. You need skills, time, and money to fix a dilapidated home. Many poor and working class do not have expendable time or income, nor do they usually have the proper skills, to do that

@@monsterglacier good thing a lot of hard working, family oriented, mostly religious people are coming across the border to replace the people who are not willing or able to fix up their neighborhoods.