I lived out of airbnbs the past few months, for a second stint with the last one being pre-pandemic. One reason these are down is that the platform is getting terrible. It’s full of scams and extremely aggressive landlords. One had a $5000 late checkout fee, another one had a $300 rule infraction fee, and you don’t know about it until you already paid and there is a zero refund policy if you don’t agree. Many wanted me to make an account with some random property management service. The properties are worse too, I think all the good ones were sold when housing prices jumped up.

Airbnb’s and similar rentals are more of an effect of housing price growth than a cause. There aren’t SO MANY airbnb’s that they’re the major driver of demand, but in hot markets rich fucks sitting on 5 houses turn them into airbnb’s. The list is also organized in an interesting way, sorting by percent drop. Are most airbnb markets dropping in revenue? If 2/3 of markets are stable or growing then a decrease in mostly southern markets where the weather is getting unbearable for tourists won’t cause a full collapse. Also, are other airbnb-esque services like vrbo losing revenue in these areas? This table is just missing a lot of information. When I look at this it looks like people didn’t want to travel to the south last summer. Even if airbnb did collapse, blackstone or local capitalists would just buy all the houses and turn them into rentals or let them sit empty.

No bust, only boom!

The bottom of the housing market for the 2008 recession was late 2011. Even if we are at the start of a deflationary period with regards to housing prices, it will take years to see the full effect.

wow not in California unfortunately