The Strong Towns Podcast Short-Term Rentals Broke the Housing Market. Now What?
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Oct 13, 2025 In this engaging discussion, Joe Minicozzi, founder of Urban3, sheds light on the complexities of short-term rentals like Airbnbs. He reveals how they distort housing markets and why current tax systems favor investors over families. By analyzing Asheville's rental market, Joe showcases the financial dynamics that drive up housing costs for owner-occupants. The conversation also explores the inconsistencies in property assessments and the need for policy changes to create a fairer housing landscape.
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Bring Assessors Into The Policy Conversation
- Start a public conversation between assessors, planners, and the community to align valuation practices with actual use.
- Push local assessment bodies and IAAO to adopt clear guidance treating short-term rentals as commercial where appropriate.
Investors Value Rentals Differently
- Short-term rental buyers value properties by cash-flow potential, not by owner-occupant mortgage math.
- That different valuation lets investors outbid families and drives residential price inflation.
Asheville Property Paid Off In Years
- Joe described a specific Asheville purchase where investors bought a property and planned to pay it off in just over four years from short-term rental income.
- He estimated that same property could produce millions in profit over decades if held as a rental.
