Research by the Harvard Business Review across the US found that Airbnb is having a detrimental impact on housing stock as it encourages landlords to move their properties out from out of the long-term rental and for-sale markets and into the short-term rental market.
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The whole benefit of airbnb is, you don't NEED a mortgage. You literally just have to pay the equivalent of 2 months rent. That's it. That's the "down payment".
If anything, Airbnb/Short term rentals will outperform any other type of real estate for the buyer and seller. Places that are typically cheaper but offer more space are making 3-4 X (the rent) EVERY MONTH.
Who knows what the future holds though..
Great content..
This video didn't age well.
Plot Twist: Housing prices actually SKYROCKETED.
yay burn airbnb to the ground. Craaaaaaaaaaash burn baby. Welcome to the world of resident folk
Sure… that .4 percent of homes is going to crash the market🤔
Maybe we are in a coronavirus recession? Caused by … Coronavirus?
Catalyst NOT cause……
I own my properties . I only did it for pocket money . So no big deal for moi 😂
Ricky, interesting opinion you have there. A suggestion though your opinion lacks good data. One sample does not make a sample size. Plus you provided other options that the one sample person can do and then you just went and said you believe nobody will take those options and choose the worst option, which in this case is foreclosure. Take a look at Airbnb Automated, where community of Airbnb hosts are getting together to switch their business model from vacation rentals to long term rentals.
Also, selling an investment property is not a bad thing for the housing market. That wasn't the cause of the 2008 crisis. Banks taking advantage of people and trapping them into complicated loans was the underlying issue. Not to say banks haven't been put into a position to do similar by our government today. But Airbnb is losing money and not in a position to come out with a positive. Banks will always come out positive and the richest will position themselves to make the income gap so much higher as long as they can hide it from the people.
Waiting until the bottom falls to buy in Florida and New York.
Yes the real estate business is going to crash but it is another opportunity for smart investors that have cash or can get almost free money to borrow wil buy up all this real estate for cheap. These savvy investors will rent these properties for cheap because they paid very little for then and there debt service is very low then in a few years they will sell and make a killing. As to Airbnb people that have big loans on their Airbnb will walk away from these homes and let the banks take them. Don't feel sorry for the banks the federal reserve will print money and bail them out again. The sad part to all this is many people that live in their own homes will loose their home .Not all Super Host own their properties I know a Super Host that has sixty five listings and he does not own one of them. He is a Realtor, when this thing hit the fan he will just start selling fourclousers and short sales. "Adapt or Die"
Currently 30M people are out of work. 20M have mortgages.
Cutbacks, forced automation will prevent many from going back to work.
This summer will be the worst sellers market since the Great Depression.
Most buyers will postpone buying a home even if they work for fear of losing their job.
I predict about 5M homes will flood the market within 12 months.
The supply/demand curve will push prices down by Christmas 2020 (20-40%)
Airbnb isn’t going to cause a recession, keep in mind a lot of listings are shared space not just empty homes. I get why you say this but if you knew what you were talking about you wouldn’t of made this video. Airbnb is not large enough to make it happen.. yes many people are screwed but not all of them do the pull of homes is even smarter… do yourself research before you share your opinion
when do you predict a recovery?
Sorry Ricky, but you're wrong on this one. The majority of Airbnb operators who jumped out of Airbnb are people who rented a room in their home or they rented a place in their name and then posted as an Airbnb. The ones still in the game are investors who have at least 25% equity. The net profit on an Airbnb is a minimum of $800 per door and that's based off of market rents. Most are above $1k net profit. They would have to cut their rates in half before they get to negative cash flow. Worst case scenario is they go month to month or long term leases and will still be profitable. No way will they be forced to sell. We have a huge housing shortage and people will still need a place to live.
Or they are just going to rent them long term…
Ricky again only selling stupid stocks and pessimism. This is way different then 08 in every possible way. You use the 1200$ example and Airbnb that we are going to go in a recession? Manufacturing over service industry. Get out of here with your short term bs. Sorry your loosing shit tons in your real estate business.
I think air b&bs will become a new norm for long term rentals. Prices have fallen cheaper than actual rentals, plus no obligations or deposits
This is dumb af. Jessica has been making X amount of money since forever ago. It has been 2-3 months that’s she has to come up with rent/mortgage payment. And who knows maybe “Jessica” has plenty of savings to last her years of not having anyone rent them out.
I believe you are correct
Having said that please look into rental arbitrage. We are getting smoked there too
Interesting perspective.
No, Jessica will just have to convert those units back to long-term rentals and negotiate a better price.
Go tell that to airbnb buffoons! They are too stupid to understand
Lmao, if I shared this video with anyone they would think I'm a moron. Airbnb is the problem.. I hope you're trolling. Greedy people like Jessica are the problem with the economy, she bit off more than she could chew. She tried to own a hotel essentially with no capital and all credit. You're blaming airbnb for a recession lol, good gravy son. Responsibility what's that? Never mind, I've wasted all the time I can
Good observation and good points 👍🏻
You stole this verbatim from my friends tic tok. This is THEFT. submitting copyright strike.
Just sharing my opinion on the negative impact Airbnb can have on our housing market when things are already so fragile! Let me know what you think!