| I totally agree. However that is not what it became. This cannot have been a surprise to AirBnb, as it must have required huge lobbying across many countries. The three stages of airbnb: - actual sharing of spare capacity on a temporary basis (for example effectively a house swap while on holiday) - rental of permanent properties by "early adopters" who saw the loophole and the gap in the market - inundation of full time speculators who own many properties and lots of highly leveraged "owners" who have one or a handful of properties, plus landlords who couldn't add up and had negative yield on their long-term rentals and bailed to short term The last layer here are going to get hit hard. Many will retreat to long-term rentals again, which will see rents fall. For those who already had negative yield before moving to airbnb, this will be even worse now. Also many airbnb rentiers will have a low skill set, with bad qualifications. They got into it because it seemed like easy money, and they will be the first to suffer in the coming recession. Forced sellers. ----- I'll add my comment here as I mentioned unearned income, which hacker news really don't like, so they gave me the fake "you're posting too fast" even though I've posted nothing for over 20 minutes. They used Ireland as a proxy to avoid tax? God these people have zero shame. |