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by vidarh
1889 days ago
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Increasing the supply of housing would be a major benefit, but Airbnb does not increase the supply of housing. Unfortunately a lot of interests are also aligned against increasing the supply of housing, because steadily rising house prices ironically reduces the incentive to build (no rush to build if your return from sitting on the land until a suitable amount of time before you want to exit can get you the same ROI), while a lot of home owners don't get that it is often in their interest too to see prices slowly and steadily drop rather than increase (most of us would love to be able to trade up, and so would benefit from prices dropping at a rate similar to typical mortgage repayment, but a lot of people see their house as an investment and get excited when it goes up - for my part I look at the houses that were GBP 400k when my house was 200k, which are now 800k while my house is 400k, and wish the prices had halved instead of doubled). |
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