AI Snips
Chapters
Transcript
Episode notes
New Buildings Don't Cause Neighborhood Gentrification
- New market-rate buildings rarely cause nearby rents to rise; they appear where prices are already increasing.
- Building more housing can absorb demand and sometimes slightly reduce pressure on rents.
Airbnb Began With A Mattress In A Living Room
- Airbnb started as founders renting out a living-room mattress to cover rent during a conference in San Francisco.
- That small idea morphed into a platform where many listings are entire, unoccupied homes rather than spare rooms.
Short-Term Rentals Bite Into Long-Term Supply
- In Sydney, year-round Airbnb listings equaled about half the city's rental vacancy rate and U.S. cities showed a median conversion of ~12% of rentals to Airbnb.
- Research estimated Airbnb explained ~20% of rent increases in the studied period.