How AirBnb Is Hurting An Already High-Cost, Shrinking Housing Market
Newsy
AirBnB is shrinking the already short housing supply, costing renters millions of dollars. But, other factors make it a tricky situation to lay blame.
There have been many public complaints about short-term rental sites like AirBnB, VRBO and HomeAway over the past couple years — and not just because of those wild cleaning fees.
The short-term rental industry has been repeatedly accused of driving housing prices up by contributing to the housing shortage both in the U.S. and abroad.
The accusations have been coming from both local residents and city councils in popular travel destinations like Amsterdam, London and New York. AirBnB gets the brunt of much of the criticism for its status as the short-term rental industry leader and the size of its operations. New York, one of the U.S. cities with the most AirBnBs, reportedly now has more locations than actual apartments to rent.
