“There’s this wild disconnect between what people are experiencing and what economists are experiencing,” says Nikki Cimino, a recruiter in Denver.
“There’s this wild disconnect between what people are experiencing and what economists are experiencing,” says Nikki Cimino, a recruiter in Denver.
Housing was wildly expensive and rising incredibly fast before Airbnb was invented (company started in 2008, which you might recognize as an important year for the real estate market). After 2008, tons of investors came in to buy up the depressed value properties to either flip or rent out or just hold onto until the value returned. People buying houses with cash isn’t something Airbnb caused. Corporations buying up houses to rent isn’t something Airbnb caused. Foreign investors buying up houses to get their money out of their country isn’t something Airbnb caused.
Airbnb invented a way to make money off of housing by taking houses away from people. Entire blocks will be bought by a company just to use as an Airbnb hence why a lot of stipulations have been recently coming in to prevent a ‘housing shortage’ while there’s enough housing.
So yes, Airbnb did a lot of damage there when it comes to ‘who can we pin ideas on’ blame which we love to do so much to boomers.