October 17, 2016
In the longer run, the exploded desire of a relatively few residential property owners to capture the high profits of short-term rentals creates an over-supply of these units. This shrinks both the number of houses for sale and the number available for long-term rental. This drives up the purchase price of home ownership, and the price of rental housing for those who would live permanently in the city. Portland is experiencing these realities in the extreme. At the same time hundreds of Airbnb units sit idle for large portions of the year, awaiting the next short-term rental opportunity….
Source: http://www.theforecaster.net/policy-wonk-airbnb-spells-housing-trouble/
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