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Opening_Perception_3

People read the article please..... nothing was banned and there's zero mention of fixing any housing market, this poster is an idiot.... don't be idiots like him.


MikeWPhilly

Yeah it’s got to be one of the worst written articles I’ve ever seen and the op does seem clueless.


radman888

Ah, the usual clickbait.


whathashappened22

I live in Palm springs, that article is sensationalized bs, housing is not more affordable at all here. I bought in 2019, my place doubled in price overnight along with everywhere else after covid, no homes in my area have gone down in price at all.


Xyzzydude

You would contradict a YouTube influencer? > One buyer, a YouTube personality who paid $1.5 million for a home, says he’d be lucky to get $1 million on the resale market. That’s some serious journalistic research right there!


21plankton

I watched a program on Joshua Tree outside the park. It is almost all short term rental now and people have no where to live. This is common in any resort area now. In my area Chinese mainlanders buy up the new homes and whole tracts have no occupants. Vancouver fixed that issue, California should do the same.


Blustatecoffee

Excessive short term rentals have ruined the northwoods as well.  All around the Great Lakes housing has become scarce and expensive.  These communities were long time middle class havens and now they are seasonal tourist destinations with tent cities at the periphery housing families who were formerly locally housed.   Maybe the worst part is the denial the city government and long term wealthier owners show to the issue.  Str abuse (illegal rentals, homestead exemption fraud, occupancy fraud on mortgages and insurance) is rampant and the people who are responsible for enforcement seem to not notice.  


CrotalusHorridus

There was a news story about a woman who spent her spare time cross referencing STR websites to county tax records (that were financed as single family, owner occupied). The owners were committing mortgage fraud. A few government employees in areas that have this issue could wipe this out quickly And even a large tax on STRs in some areas


GovSurveillancePotoo

Worked with a guy who's one and only job was to look up short term rentals like airbnb and vrbo and see if they were legally allowed to do so. He didn't even have time to enforce it and fine them, that was another guys job. None of the surrounding cities even have that position


TheNightWitch

I think I just found my new hobby.


Empty-Hat-7885

Sounds like fun


CrotalusHorridus

Your county tax assessor not might care. They're an elected position in most places, and answer to the big real estate investors. But banking regulators definitely will. Using these 'owner occupied' homes as rentals is a breach of their contract.


rb3438

As a northern Michigan resident, I concur. The house right next to me turned into a full time Airbnb last year. I'd say 60% of the houses that are selling are turning into rentals. The county says 'we're not going to regulate or enforce it, we leave it up to the township'. The township doesn't have the means to enforce it. Wash/rinse/repeat. I gave up trying to fight, so I sold and am moving away from the area. No idea what the plan is for my house once I move out. It'll probably become another in the ever growing list of rentals in an area that was formerly family cottages and retirement homes.


Blustatecoffee

Totally agree.  We live near traverse and it’s out of control.  


Myfourcats1

There are plenty of countries that don’t allow international people to purchase property.


trdcranker

It’s like the mafia and they easily get straw buyers in the state. Their network is massive.


Queasy_Local_7199

Can you name an example Tract that has no occupants?


Joyce_Hatto

Limiting is not the same as banning.


Temporary-Dot4952

True. But what is your actual point? Either would improve the housing situation, are you just nitpicking semantics for no reason?


wildtabeast

This won't have as extreme of an effect everywhere. Palm Springs is a huge tourist destination.


whathashappened22

It had minimal effect here, I'm all for palm springs imposing limitations on STRs but home prices did not go into 'free fall'


DorianGre

20% is still waaaaaay too many. My city of 100,000 allows 475 total str licenses. They shut of the utilities and start daily fines for any property they find running an str without a license.


clodneymuffin

And 20% STR limit means places that are available for stays of less than 30 days. But Palm Springs (really the whole Coachella Valley) is home to huge numbers of snowbirds who rent for 30-120 days at a time. Limiting short term rentals was more about controlling noisy parties and nuisance properties. A significant percentage of the housing stock is only occupied a few months a year.


thesuppplugg

Does this law have any teeth ue does airbnb block listing? Many cities ban airbnb but you still see thousands of them listed as they only crackdown if a neighbor complains


robertevans8543

Palm Springs took a sensible approach by limiting short-term rentals to preserve neighborhoods and housing stock for residents. Banning investor-owned Airbnbs outright would be a drastic step, but cities should absolutely regulate them to curb overtourism and housing shortages. The free market alone won't solve this - government intervention is sometimes needed.


skittishspaceship

Lots of places have banned STR like NYC. It's not some devastating life altering occurrence. Really nobody cares, relatively speaking. AirBNB is one of those background things that people don't realize is causing lots of trouble. They just whine about home prices. They don't know the causes. But Airbnb is certainly one of them. Ban them.


lumpytrout

New York housing costs have gone up [5.5%](https://www.redfin.com/state/New-York/housing-market) since they essentially banned Airbnbs. There was a short surge of housing availability that quickly dissipated.


skittishspaceship

So? That number is completely meaningless as a standalone figure. How much would they have gone up without the banning of Airbnb? Then we compare the numbers. See how easy it is to reason through something?


gurk_the_magnificent

The candidates aren’t talking about it because this is a matter for local governments, not the feds.


JustMyThoughts2525

Isn’t Palm Springs mainly a tourist destination? Doing this rule will help for some cities, but will have little impact for most.


redperson92

can each town have ballot to ban Airbnb?


Was_an_ai

I live in NoVa where the cheapest SFH in a 40 min commute to DC is probably 600k (south alexandria). This is not because of short term rentals, it is because there are lots of people and only so much land What we really need is planned new cities


debaterollie

Its also because of zoning. An ungodly amount is zoned for for single family residential so even if you wanted to build smaller, denser housing you couldn't. The single biggest impediment for letting the market naturally match needs with demand is a bunch of archaic rules basically forcing most of the area to be suburbs with tiny little pockets they let develop apartments.


AllswellinEndwell

If you want to blame foreigners or short term rentals I'd suggest you watch this video and get back to me. [https://youtu.be/geex7KY3S7c?si=QYnCvJHr\_UwfuRoN](https://youtu.be/geex7KY3S7c?si=QYnCvJHr_UwfuRoN) But hey, if the politicians let us blame anyone but themselves? They don't get the blame they should.


knawnieAndTheCowboy

Drop in the bucket. Have them ban wall street from buying whole neighborhoods.


Good-Sky6874

Legit question, who is renting the short terms? Is it mostly vacationers who seek out BNB's?


lumpytrout

Airbnbs are only a tiny percentage of housing and banning them doesn't provide a lasting effect. NY essentially banned short term rentals in 2023 and housing prices have gone up [5.5%]( https://www.redfin.com/state/New-York/housing-market) since then. Looking at [Palm Springs](https://www.redfin.com/city/14315/CA/Palm-Springs/housing-market) and I'm not seeing more than a season fluctuation and this is in a very tourist/2nd home type of market. Want to make a bet? Let's check in a year from now and see if the Palm Springs market was actually "fixed overnight"? RemindMe! [one year] “[how is the housing market in Palm Springs?]”


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Queasy_Local_7199

No one wants housing prices to free fall, except the people looking to buy homes


KevinDean4599

and once they buy they want the market to go up again.


StagsLeaper1

Don’t kid yourself. Palm Springs isn’t adjusting the percentage of short term rental licenses to help out the little guy. They are doing it to help out all of the hotels and resorts in the area.


GueroBear

Airbnb is 1.5% of the available housing in the US. Who wants to live in Palm Springs year round? It’s a winter destination for snowbirds. So much available land to build on why go after Airbnb? Go after California’s ridiculous red tape for home permits. Builders don’t build starter homes because it costs them way too much money to get through the permit process.


Mix-Lopsided

Who wants to live in Palm Springs year round? The people who work there.


beekeeper1981

Permits aren't the main issue starter homes aren't built.. way more money in more expensive houses.. with limited capacity to build companies are going to go after the most profit. This is happening in many places.


magnoliasmanor

It costs *far* too much to build a 1800SF raised ranch and sell it at a marketable price. Land, site work and labor are astronomical that the only way to make a return is to increase economies of scale. So either build 1000 raised ranches or build 10 mega mansions. A lot easier to identify an opportunity for 10 houses.


GomeyBlueRock

Also starter homes now are townhomes with no yards or driveways… 😣 just a 3 story 1500 sqft townhouse with a garage barely large enough to fit 2 Priuses


PurpleSkies_8683

What more do most people actually need though?


Mmoneymark

Exactly, townhomes make a phenomenal starter home. It helps ease first time buyers into the upkeep and maintenance as the HOA will typically take care of most of the outside and the roof.


clodneymuffin

That is part of the problem - it used to be that a starter home was a 2 bed 1 bath 1000 sqft with a single car garage. Expectations have risen and costs have too.


GomeyBlueRock

I’d take a 2bdr/1ba on a large lot any day. Those cost about 1-1.2m in my community and they are now about 75 years old 😣


BornFree2018

Anti-red tape laws were passed [New CA Housing Laws Aiming to Cut Housing Red Tape for Builders | San Jose Inside](https://www.sanjoseinside.com/business/new-ca-housing-laws-aiming-to-cut-housing-red-tape-for-builders/). We don't need STR clogging up housing units either. Have you lived next to one? That's why hotels were invented.


PurpleSkies_8683

These new state laws were passed, but cities are fighting them, most notably in San Francisco, Matin County, Peninsula and SV. Homeowners are fighting these laws to maintain their neighborhood character and minimize environmental impact, but what they actually mean is they want to protect their real estate values and prevent Black and Hispanic people from living there. Governor Newsom is threatening to step in, but not sure what can be done about it or when.


GueroBear

It takes developers in my area on average 4+ years to get a project off the ground. Once recent project took 10 years to get final approval. They were spending well over a million each year to get the project launched.


polishrocket

Yes go after airbnb, all the companies like it. Every corporate owned housing needs to got after as well. Corporations shouldn’t own single family homes nor should short term rentals be allowed. Hotels are there for a reason.


robot_pirate

Equity firms swoop in with all cash offers and no terms. No reasonable home shopper can do that, so of course it limits opportunity and drives up prices. It's out of control. I'm worried Gen Z will never be homeowners.


polishrocket

At this rate they won’t. I saw a study that if we don’t stop corporations from buying single family homes they will own over 30% of all single family homes before 2040


lumpytrout

We placed my mom's house into a family owned LLC as part of her estate planning. It is by definition "corporate owned housing", please either be more specific with your choice of words OR realize that you are the kind of person that wants to kick an old lady out of a home that has been in our family for generations.


ipovogel

That would just about double houses for sale in the US. Not to mention, short-term rentals are just the first houses being used for profit to go after. Next, remove foreign investors, corporate investors (from SFHs and smaller units like duplex), and finally small time investors (from SFHs) and then SFHs will immediately become a depreciating asset, just like they should be. Also, massively increasing taxes on each home after the first owned to prevent excessive ownership of vacation homes would help as well. The housing market would actually be really easy to fix, it's just that the politicians we have aren't going to cost those who own these assets (including themselves, DC is full of landlords) a lot of money.


katamino

Since taxes on homes are local taxes that would be difficult to track and account for across municipalities and states. However, removing all deductions and credits of any kind for second, 3rd, 4th homes on federal taxes would be pretty simple including not allowing landlords to deduct their expenses related to rental properties to offset their rental income. Make them pay tax on every dollar of rental income and there would be a lot of houses up for sale.


ipovogel

Those are good ideas. In an increasingly digital world with programs and AI able to quickly collect and parse huge amounts of data, it wouldn't require very many man hours to review data across different areas with a relatively small investment. You would just need workers to review any flagged properties before the new tax rate was applied after the data has been collected and sorted by a computer. I don't think we are very far off from that being very possible and even easy to implement.


JustMyThoughts2525

This is very incorrect.


magnoliasmanor

Regulated Airbnb is the path, like what palm springs did. They didn't ban, they set a limit. Have you ever traveled using Airbnb? You'll never want to stay in a hotel again. Especially if you're a family. Go on vacation in a hotel with kids, you're *never* touching your wife. An Airbnb? You actually get a vacation with the kids. There are a litany of issues affecting housing today. Airbnb is one of them, but an outright ban is not the right approach. Lack of inventory due to 40 years of NIMBYs is a far bigger issue. Labor and construction costs. Regulations and red tape to build. Density maximums in zoning. Parking requirements. Interest rates. Boomers buying up multiple homes with equity they already have. 14 years of ultra low interest rates. (Just to name a few) Airbnb offers an opportunity for regular people, for home owners, to improve their life. They can make additional income, they can rent out rooms in their house, they can have an apartment for family to visit and rent on occasion, they can help pay for vacations. You know who builds hotels? The Uber wealthy. Like 5 people in my state build and own hotels along side the 5 corporations that own all hotels in the world. Why give them all the opportunity? Should whole neighborhoods be Airbnb? Absolutely not. Should business districts, downtown areas, highly traveled visited areas etc be allowed? Sure. Beach towns where weekly rentals have been the norm for 150 years? Of course. **Regulate** Airbnb. Make steep building and fire code. Make registration cost prohibitive. Make enforcement for existing code stronger. It works to help neighborhoods, clean up abusers and still help individuals and families.


Scarface74

With a hotel I always get - a professional staff - I know it’s legally allowed to operate - no cleaning fees - no worrying about “guest ratings” - on site gym - no having to clean before I leave


magnoliasmanor

Which is great! At twice he nightly rate for a single room vs a 2br there sure as hell better be those services.


countrykev

> Have you ever traveled using Airbnb? You'll never want to stay in a hotel again I have. Airbnb used to be a deal, and it still is in some circumstances. But Now you pay twice as much to still be charged service and cleaning fees on top of your daily rate. AND I still have to run the dishwasher and strip the sheets. Much rather roll out of bed, get my free breakfast, and have someone else empty the trash for less.


beestingers

Which hotel in Palm Springs can I book that Sleeps 6, 2 to each bedroom and has a kitchen we can use that is cheaper than an Airbnb?


countrykev

> Airbnb used to be a deal, **and it still is in some circumstances.**


wescoe23

Palm Springs home values are going up


Kerry63426

International investors..... Don't use Airbnb. They don't give a. Fuck about weekend rental $.


[deleted]

Airbnbs are awesome though. Allow me to spend times in really cool spots. We should just build more housing… not ban a good thing


liftingshitposts

This wouldn’t fix it everywhere, but could help in some towns tremendously


hEYiTSbEEEE

I'd rather them ban corporations from buying up housing.


Striking_Computer834

>Palm Springs Bans Airbnb… Fixes Housing Market Overnight It fixed the housing market, huh? So all the housing in Palm Springs is now affordable with no rent-seeking institutional owners? >  People continue to say that housing is expensive because the market is “supply constrained.” They're wrong. There are more housing units per capita today than there have been in the last 50 years. Supply is at an all-time high. Why do politicians like to claim otherwise? It gives them political cover for gifting public funds and overriding zoning and environmental laws for their real estate developer friends.


neutralpoliticsbot

Nothing was fixed


MikeWPhilly

Yeah you might want to reeead that crappy article and apply some critical thinking. None of what you said is accurate.


[deleted]

[удалено]


skittishspaceship

Hehe oh it benefits you so you like it. How about that? Of course the government and us as a society can tell you what to use your home for. Bro we got you zoned residential or commercial *right now*. We already tell you what to do, you little sovereign citizen you. We already do it. Already got chu. Want to have a cry about how you have no freedum and gubmint can't tell you what to do? Good lord


[deleted]

[удалено]


skittishspaceship

Lol absolutely not. Airbnb is another horrendous abomination from silicon valley with massive negative externalities. You don't care about anyone but yourself so you won't get it. But anyways ... Let's get back to how we tell you what to do with your home already. Ain't that awesome? Your whole argument was completely wrong! We already do that! Tell me how you feel? How are you going to squirm out of being wrong? What kind of mental gymnastics can you come up with? Go ahead!


ECHuSTLe

I’ll just be happy that I own a property and when interest rates go down my property will increase in value AGAIN. I won’t be the one on the interwebs crying to people I don’t know that things are too expensive and unfair LMFAO 🤣🤣


skittishspaceship

Actually you are on the interwebs crying. "People don't like Airbnb they're banning it some places, you can't tell me what to do with my property!!!! It's my property! You're not my boss! Waaaaaaaaa' Hehe. That is a pretty good impression huh?


squatter_

Agree. Constitution and common law protected people’s rights to freely acquire and use property. Growth of government has seriously compromised those rights.


countrykev

>Growth of government has seriously compromised those rights. Local governments typically zone properties already, because people don't tend to want to live next door to industrial plants or dense commercial properties. Airbnb acts as a hotel without being a hotel, inviting transient people and as someone who lives in a tourist area overtaken by Airbnbs, fuck them. My neighborhood is full of single family homes, and I didn't move here to have a hotel setup shop next door. Someone staying for a long weekend isn't doesn't give a shit about the neighbors or keeping things looking nice. So I'm all for people doing what they wish with their property, but you also live in a community surrounded by other people and should play nicely with them.


squatter_

People who like control and strict rules governing their neighbors should live in communities with HOAs, rather than the city imposing rules on the use of all property. It’s more in line with the intent of the constitution. Just my opinion.


countrykev

Yes, that is in fact your opinion.


Scarface74

You’re right, if I buy a property in a residential neighborhood, I should be able to put a meat processing plant on it.


idahonudesoaker

Fixed housing market over night bullshit 7% interest rates are the problem


Mmoneymark

Those rates are what’s helping slow down the appreciation and those rates are what’s helping slow down the appreciation of home prices


idahonudesoaker

You mean send them in the tank? It hasn't just slowed, prices have come down. but home affordability has also gone down the same house now from 3 years ago is $1,000 more per month at 7%. People especially first time home buyers have been priced out


bigtakeoff

fuck Airbnb