AirBnB: Hot with Tourists, Hard on Renters
|February 16, 2014||Posted by Staff under Editorials|
This 2014 excerpt of Slate, Feb 13, is by Rachel Monroe.
AirBnB is a utopian vision of regular people helping each other out (and making a little money along the way). Airbnb co-founder Brian Chesky says: “For us to win, no one has to lose.”
Airbnb’s top 40 hosts in New York City have grossed more than $35 million combined.
Landlords stand to make much more renting apartments to short-term guests at higher rates than they would if they signed up tenants for yearlong leases.
Property owners have a financial incentive to keep their houses empty more of the time, in anticipation of potential tourist dollars.
Changing existing housing from long-term rentals to short-term reduces available homes for lower-income residents and less supply pushes up how much they must pay.
Ed. Notes: As usual, the problem is people assuming that the rental profit from locations belongs to the landowner when in a moral universe it belongs to those creating it, which is the surrounding society. Further, nobody made the earth, everybody needs some part of her, and enjoying an equal right to life we all have an equal right to land. If we were to use government to recover then disburse equitably the socially-generated value of land — and to not tax and subsidize willy-nilly — then the rise in site value would be a boon to us all, no matter what its cause: tourists, Air(mattress)BnB, or locals hitting the jackpot.