At least one Manitoba owner who shut down her Airbnb in Winnipeg says the city's new rules on short-term rentals are ‘disheartening’ for individual and smaller operators. Morgan Modjeski reports.
Zero sympathy for these whole-home absentee "host" (sic) "investors" who serve no one except themselves. If Winnipeg's rules were rolled out across Canada we'd have far more residential properties available to average people seeking a long-term home and far less of an affordable housing shortage.
The problem isn't with local families buying houses to list as short term rentals. The problem is foreign investors buying land who don't even live in the country.
@@Jesusthemiraculoushealeryes it is. It's both, and more. Domestic "investors" are a much bigger problem than even foreign "investors" or REITs. See the website "INSIDE AIRBNB" and the article "REITS vs individual investors, who is driving up prices?" by the Canadian Housing Evidence Collaborative (CHEC), July2023 And read "Sick City" (2021), by UBC Prof & Urban Designer Patrick Condon. For years he insisted we need only "build more housing" to restore housing affordability, but he now admits he was wrong, and that only "non-market" housing can save us. The book can be downloaded as free PDF from his website "justicelandandthecity".
Hotels are owned by large corporations. When money goes to a hotel most of it goes out of the country into the pocket of a few wealthy owners and CEO's never to return to the community it came from. On the other hand, most of the money made through BnB is paid to a local family. The money stays in the community and is used to improve the neighborhood because the home owner has the money and desire to improve and maintain their rental house. Hotel corporations put pressure on politicians to create laws that force visitors to continue using hotels, rather than small independently owned places like airBnB. Rentals make very little profit. The home owner has little money, energy, or motive to maintain the property or improve its value because they're constantly trying to find good tenants who will pay regularly. The real problem with housing is foreign investors coming in with a lot of money to buy all the cheap land and houses to rent out and driving buying property costs above what locals are able to pay. This is what happened in Vancouver. The housing problem is not local families running short term rentals from their homes. Thailand got it right for their people. Any business in Thailand has to be 50% owned by a Thai person and you have to be Thai in order to own property there. This kept the money in the country and kept housing prices affordable for locals. Now they're the second largest economy in South East Asia. If you think the problem is locals getting into hospitality, your focusing on a very small part in a much bigger problem and rooting for the wrong side. The real economic and housing problem is land and business being taken from us by foreign corporations.
