"AirBnB is collapsing"
GOOD
AirBnB is collapsing. Hosts see 50% year-over-year decline in revenue.
Non-Running
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The market will find itself.
IMO the only time an AirBnB makes sense vs a hotel is if you are looking for a house for a large group or the area you are visiting just isn't a place that can support a hotel.
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Over the last 10 years or so, too many people bought into the idea that rental properties were the ticket to get rich quick. People and corporations buying single-family houses for rentals, both long-term and short-term, are the biggest cause of the current housing affordability crisis. There has always been a need for rental properties, but the "real-estate gurus" have kicked the demand for properties into high gear by promising investors they will get rich and never have to work again. This is a relatively new phenomenon and it has a created a bubble that is unsustainable.
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Don't know why people have such strong feelings about this. Some airbnb's are worth it, some aren't. If you've got more than 4 people they usually make more sense. I get some people love airbnb's so much that you start hating the product when you should just hate the person but it's not like hotels don't charge a ton of fees either. At the end of a day it's a business transaction and you go to where the value is for your stay.
That said tyt has somehow gotten worse. What's with the AOC wannabe whining about passive income? Guess she wants to work til she dies
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BigTex wrote:
Over the last 10 years or so, too many people bought into the idea that rental properties were the ticket to get rich quick. People and corporations buying single-family houses for rentals, both long-term and short-term, are the biggest cause of the current housing affordability crisis. There has always been a need for rental properties, but the "real-estate gurus" have kicked the demand for properties into high gear by promising investors they will get rich and never have to work again. This is a relatively new phenomenon and it has a created a bubble that is unsustainable.
Exactly!👍
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BigTex wrote:
People and corporations buying single-family houses for rentals, both long-term and short-term, are the biggest cause of the current housing affordability crisis.
Do you have any data to back that up? There are many other factors that contribute and I bet some of them contribute much more than the one you mentioned.
* Millennial generation (historically large generation) reaching their 30s.
* Low interest rates made higher house prices more affordable. This new perception of what a house should be valued at caused prices to remain somewhat sticky even as interest rates went up. Basically, society adjusted to the idea that it's okay to be house-poor and spend 7x your income on a house (Zillow says 7x is what you can "afford").
* Past decade was a total bonanza for out-of-college students who got good white-collar jobs at companies offering equity packages. Millions of multi-millionaire were minted.
* Regulations and material costs making it more expensive to build new houses.
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jamin wrote:
BigTex wrote:
People and corporations buying single-family houses for rentals, both long-term and short-term, are the biggest cause of the current housing affordability crisis.
Do you have any data to back that up? There are many other factors that contribute and I bet some of them contribute much more than the one you mentioned.
* Millennial generation (historically large generation) reaching their 30s.
* Low interest rates made higher house prices more affordable. This new perception of what a house should be valued at caused prices to remain somewhat sticky even as interest rates went up. Basically, society adjusted to the idea that it's okay to be house-poor and spend 7x your income on a house (Zillow says 7x is what you can "afford").
* Past decade was a total bonanza for out-of-college students who got good white-collar jobs at companies offering equity packages. Millions of multi-millionaire were minted.
* Regulations and material costs making it more expensive to build new houses.
Wall Street is a huge part of the problem.50 -
airbnb stock is up ~60% in 2023
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Didn't some prominent national class runner pass up post collegiate training to join the AirBnB team when it was a start up?
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It’s unfortunate to hear that AirBnB is struggling. I always thought it was an excellent option for both travelers and hosts. If hosts are seeing such a massive drop in revenue, it’s concerning. Maybe it’s a mix of more competition and travelers looking for better deals or experiences elsewhere. I’ve seen some hosts turning to services like to help manage their listings and boost their visibility. It seems wise, especially if they want to keep their bookings up. It would be interesting to see how the platform evolves to support its hosts more effectively. I hope things turn around for everyone involved because a vibrant rental market suits everyone!05
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Kobbs Hessler wrote:
Get woke, go broke. Air BnB was doing fine until the cancer metastasized...
Called it
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El Keniano wrote:
My last AirBnB experience was 4 years ago. Never again! I've been paying a little extra for hotels since.
Did you had a party, trashed the place, and got a 1 star review?
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AIR BnB SUCKS wrote:
Air BnB has sucked for years. Paying massive cleaning fees for places that haven't been cleaned since the last guest. Long list of rules. It was always overrated.
You pay the ridiculous cleaning fee, then get charged extra if there's any mess left. I once got charged an extra $50, on top of a $100 cleaning fee, because there was some sand in the shower.... at the beach. WHAT WAS THE CLEANING FEE FOR, THEN??? I just closed my Airbnb and bank account instead of dealing with that insanity.
Airbnb has become a massive scam, it used to be nice, especially if you're traveling in a country without a lot of hotels but it's not worth the price anymore.10
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