Technology

59427 readers

3991 users here now

This is a most excellent place for technology news and articles.

Our Rules

Follow the lemmy.world rules.
Only tech related content.
Be excellent to each another!
Mod approved content bots can post up to 10 articles per day.
Threads asking for personal tech support may be deleted.
Politics threads may be removed.
No memes allowed as posts, OK to post as comments.
Only approved bots from the list below, to ask if your bot can be added please contact us.
Check for duplicates before posting, duplicates may be removed

Approved Bots

founded 1 year ago

MODERATORS

577

How Airbnb accidentally screwed the US housing market and made $100 billion (www.arktrek.shop)

submitted 6 months ago by Dragxito@lemmy.world to c/technology@lemmy.world

123 comments fedilink hide all child comments

you are viewing a single comment's thread
view the rest of the comments

[–] Fedizen@lemmy.world 6 points 6 months ago

Air BnB effectively pitted average renters and homeowners against the luxury hotel market. From a supply/demand standpoint its basically moving something like 10% of the rental market to the hotel market.

What this does is it means luxury long term rentals slot out the next lower tier of housing at higher pricing it slides down the economic ladder until a percent of people at the bottom is simply outbid for the reduced normal rental housing stock.

Its not airbnb's fault the market shifted but it is a problem with the market as a result of blending the luxury hotel market with residential housing.