| >it's actually 12,374 (65%) units that are listed as entire unit I had filtered out the 3300 "Entire home/apt" listings that were available for 0 days a year. Not sure why it's part of the dataset, but I assume it's for people with previously active listings. I'm not really understanding the mortgage point, but you bring up an interesting point of treating "multi-listing" hosts as bad actors. If we approximate it by saying 45% of 9550 are bad actors, that's still only 4300 listing. That's still tiny relative to the Toronto rental market. To be fair, the realistic number could be a lot lower since a multi-listing host might be hosting multiple bedrooms in a single house and inflating the # of multi-listing hosts, or they might be hosting their primary residence and an investment property where only the investment property is a bad actor. >You say it's negligible but you have to remember that we have one of the lowest vacancy rates. I don't deny that Airbnb has an adverse affect on rent prices, but it appears to be quite small relative to other levers affecting the housing crisis. I wonder if a study may exist that shows the economic benefits of Airbnb in communities, keeping more of the income within local residents, patronage to a larger spread of local businesses, greater financial independence from self-employment etc... >just go on r/toronto I'm pretty active in the community, but less and less these days. It's become a major echo chamber where fact based level headed discussion is quickly down voted if the rhetoric doesn't fit the majority's views. Just look at the comments the next time Airbnb is brought up :). In all seriousness, having an overwhelming majority of people agreeing with you isn't always indicative of "being correct". For any viewpoint, there's probably an active internet community out there that feels strongly one way. Take r/the_donald or r/The_Mueller/ for example. |
So, here's another article i found on BBC, and tbh i hadn't even considered this point. A lot of airbnb units usually are in more desirable neighbourhoods, thus decreasing supply of rental units in these areas and in turn increasing the price of available units to rent. Renting on Airbnb nets you 2-3x the median long term rent. In LA, almost half of Airbnb listings were clustered in seven neighbourhoods, where rents increased a third more quickly than the city average.
Now if this is isn't a direct enough proof, i'm pretty sure i won't be changing your point of view.
Source: https://www.bbc.com/news/business-45083954
> wonder if a study may exist that shows the economic benefits of Airbnb in communities, keeping more of the income within local residents, patronage to a larger spread of local businesses, greater financial independence from self-employment etc...
I haven't really thought of that, but you also have to remember that this is Toronto (specifically near and around downtown) , and it is going to get tourists regardless of Airbnb. And what happens to local shops when a unit is vacant for 4-5 days a week?
>t's become a major echo chamber where fact based level headed discussion is quickly down voted if the rhetoric doesn't fit the majority's views
Yeah, to be really honest I can't deny that.