Airbnb is brilliant in concept. It's finding value where there used to be essentially waste.
BUT then came the growing pains caused by investors and speculators. Both of which clashed with governments who were manipulating their housing markets.
This isnt a place you want your business competing; the governments will come take you out.
Toronto for example, airbnbs can only be your principal residence. You have to register and license. there's a 4% airbnb tax.
This wipes out the investors and speculators. toronto's housing pricing is down 5% across the board. There's now people selling and losing ~$400,000. We're at record highs for number of units unsold. # of Sales are down 20%
There has to be a correction, but how that doesnt pop the housing bubbles, i dunno. doesnt help that toronto's unemployment is at 10% which is worse than the financial crisis. Toronto's also losing their film industry shortly. Auto industry is suspended if not moving.
BUT then came the growing pains caused by investors and speculators. Both of which clashed with governments who were manipulating their housing markets.
This isnt a place you want your business competing; the governments will come take you out.
Toronto for example, airbnbs can only be your principal residence. You have to register and license. there's a 4% airbnb tax.
This wipes out the investors and speculators. toronto's housing pricing is down 5% across the board. There's now people selling and losing ~$400,000. We're at record highs for number of units unsold. # of Sales are down 20%
There has to be a correction, but how that doesnt pop the housing bubbles, i dunno. doesnt help that toronto's unemployment is at 10% which is worse than the financial crisis. Toronto's also losing their film industry shortly. Auto industry is suspended if not moving.