Many of the world’s largest investment firms have launched new funds over the past couple of years aimed at acquiring or building single-family homes to use as rentals. This comes as no surprise considering that the increased cost of buying a home has forced many Americans into being tenants instead of homeowners. Arrived, a young real estate company backed by Amazon.com Inc. founder Jeff Bezos, has just announced its entry into the single-family rental fund space. Arrived currently operates a f
Congratulations, Airbnb. You singlehandedly destroyed the entire US housing stock, and ensured that the rich can continue to get richer, and the rest of us can continue to get fucked.
edit: Not even joking.
Airbnb didn’t single-handedly destroy US housing stock. It’s really not even the biggest part of the problem.
Zoning codes that prevent the addition of any density to cities are way more of a problem than airbnb could dream of being. If Euclidean zoning existed 300 years ago, Manhattan would be 90% mcmansions, rather than being almost entirely low-, mid- and high-rises.