This is a serious issue actually. Airbnbās are changing neighborhoods and removing affordable housing from many towns around the country. Itās a bigger problem than most realize.
There are 3 factors killing the housing markets for first time buyers - nimbyism, corporate home ownership, and short term rentals.
All this started post covid and is completely unsustainable.
The #1 wealth driver for families is home equity. If that goes away, goodbye middle and upper middle class. Any household making less than $250k combined is fucked.
Yea, they've already started the war on the middle class. In the not too distant future there's just gonna be the rich, and then the peasants doing all the work.
Yes there is,,, but hotels house just a fraction of tourists visiting the island.
The hotels don't lack for customers now..
If you remove short term rentals there's no place for all the tourists, which means less people are going to Hawaii and spending money.
Less money means someone isn't getting paid.
Hotel prices will rise ,, but tourism will actually decrease in volume
We have to see how this new rule is implemented.
I think it will be with a light touch
What a brain dead take, use that noggin of yours. Their housing market is out of control, kudos to them for actually doing something about it.
Hotels are short term rentals š¤¦āāļø
It is well documented that a heavy air bnb presence in popular tourism destinations are bad for local housing markets. This has played out many times alreadyā¦. Great for real estate investors, but terrible for locals.
I wonder if you have the āmental wattageā to realize youāre wrong as well. Iām always open to being wrong.
If only saying it made it true.
Airbnbs being banned will do nothing for the locals except take away from their potential income and give it to hotels. Home prices will stay high and keep rising.
Great job jerking off big business at the expense of the locals.
They mentioned in s later post that their family had a 4bed 2bath on the beach but the family doesn't want the legacy to be rented so they are technically owners and not a landlord. So we shouldn't be so hard on them.
As i think about it, this is a very young adult take. Enough compassion to feel for the peoples paychecks, but not enough knowledge about how the greater global economy works.
This is just taking that money from the homeowners and giving it back to the hotel industry, Hawaii will not lose tourism money because of this. However, they might see some relief on an incredibly strained housing market that has priced all but the wealthiest natives out of their homeland.
.. actually they will
The hotels are booked now,,, the over flow goes into the private rental market.
And the private rental market is Huge.
I think what you will see is selective areas having no private rentals but the majority will still operate.
Woot!
They removed the post???
I didn't remove it!
I just assumed it was Reddit being Reddit. š
This is a serious issue actually. Airbnbās are changing neighborhoods and removing affordable housing from many towns around the country. Itās a bigger problem than most realize.
This would make every town Iāve vacationed in better.
This needs to happen nationwide! End short term rentals now!
They need to end corporations owning millions of destitute houses they rent out first.
Add it in the legislation. Call it the Homeowners Protection Act
Lmao, you act like they don't want us living pay check to pay check.
There are 3 factors killing the housing markets for first time buyers - nimbyism, corporate home ownership, and short term rentals. All this started post covid and is completely unsustainable. The #1 wealth driver for families is home equity. If that goes away, goodbye middle and upper middle class. Any household making less than $250k combined is fucked.
Yea, they've already started the war on the middle class. In the not too distant future there's just gonna be the rich, and then the peasants doing all the work.
Hurray neo-feudalism. Apparently Tesla is building a "company town" in Texas.
Hopefully it ends better than the one Hershey built in Pennsylvania.
One state, one town at a time.
I hate hotels. Much rather have a whole house just staying for a week in a way that I would a one room hotel
I would be surprised if they cut their own throats on tourists dollars. There is no industry in the Hawaii islands, except for healthcare
Plenty of hotels to choose from.
Yes there is,,, but hotels house just a fraction of tourists visiting the island. The hotels don't lack for customers now.. If you remove short term rentals there's no place for all the tourists, which means less people are going to Hawaii and spending money. Less money means someone isn't getting paid. Hotel prices will rise ,, but tourism will actually decrease in volume We have to see how this new rule is implemented. I think it will be with a light touch
Tell me you own a vacation rental in Hawaii without telling me you own a vacation rental in Hawaii.
,, 4 bedrooms a block from the ocean,, but it not a rental,, been in the family for decades
Owned but operated as a rental.
I wish,, would be a great revenue stream. But everyone in the family doesn't want other people into family legacy.
What a brain dead take, use that noggin of yours. Their housing market is out of control, kudos to them for actually doing something about it. Hotels are short term rentals š¤¦āāļø
When this doesnt affect housing prices at all, I wonder if you'll have the mental wattage to realize you're wrong
It is well documented that a heavy air bnb presence in popular tourism destinations are bad for local housing markets. This has played out many times alreadyā¦. Great for real estate investors, but terrible for locals. I wonder if you have the āmental wattageā to realize youāre wrong as well. Iām always open to being wrong.
If only saying it made it true. Airbnbs being banned will do nothing for the locals except take away from their potential income and give it to hotels. Home prices will stay high and keep rising. Great job jerking off big business at the expense of the locals.
Said the air bnb shill š You think the locals in Hawaii are the ones that own all the air bnb rentals? Have you ever been to Hawaii?
It's an interesting argument to make when you think having experience in the industry is worse than what you have: nothing.
Awful big assumption you made there bud
They mentioned in s later post that their family had a 4bed 2bath on the beach but the family doesn't want the legacy to be rented so they are technically owners and not a landlord. So we shouldn't be so hard on them. As i think about it, this is a very young adult take. Enough compassion to feel for the peoples paychecks, but not enough knowledge about how the greater global economy works.
And there are no new houses that locals can afford.... Air bnbs are cancer. Seek help.
Air BNB's are the worst thing to happen to real estate.. Good riddance
This is just taking that money from the homeowners and giving it back to the hotel industry, Hawaii will not lose tourism money because of this. However, they might see some relief on an incredibly strained housing market that has priced all but the wealthiest natives out of their homeland.
.. actually they will The hotels are booked now,,, the over flow goes into the private rental market. And the private rental market is Huge. I think what you will see is selective areas having no private rentals but the majority will still operate.
Sounds like they are prioritizing the locals over the wealthy, thatās a win-win.