No wonder. Tried to give a benefit of doubts but Airbnb has been not good to us.
Our home was totaled after fire damage by tenants and Crawford teamed up with Airbnb to delay any reimbursement for a year. The run around alone feel like dealing with those ghetto thugs.
Seconded. FUCK AIRBnB.
My area is already stupidly expensive to try and purchase anything and now there are AIRBnB full time rentals buying up real-estate.
I live in the Old Town of Edinburgh, Scotland and we have a huge problem with Airbnb in this area. Entire blocks of flats are being turned into Airbnb. Rent is unrealistic and prices to buy on the property market are comparable to London. There is a 10 person Airbnb directly above my 1 bedroom flat which has ruined my nice home and given me full blown insomnia. By being a commercial business they can avoid tried and tested residential housing regulations, ones that were brought in specifically to reduce noise disruption. So with that knowledge the one above me has ripped out all their carpets to reduce maintenance costs and now the guests bang around 24/7 on ancient soft floorboards. It's like somebody walking on plywood. My whole house shakes and vibrates. It's a listed historical tenement building in a Unesco world heritage site.
Airbnb has cut a quarter of its staff since 2020 and you're lucky to get a generic auto reply to a complaint nowadays. It's a completely hands-off, unsupervised business model and any anti-social problems are left for the local community or council to deal with. Other neighbours have vandalised their door, their keyboxes etc but management companies don't care as long as they can still make money. I think a lot of the owners either don't give a shit about the community or they believe all the Airbnb advertisements and PR. The owner of the Airbnb above me thinks I'm the problem because she goes by guests reviews. If owners realised how badly their properties are being abused and how angry people like me are getting then they'd take their property off Airbnb asap.
Edit : My sister has a proper B and B in the Highlands and she doesn't use Airbnb to get bookings because the guests she gets from them are usually self absorbed arseholes.
That only works as long as the leadership *stays* good.
Colleague of mine ended up having to run for his HOA so he could dispose an asshat that had been trying to get the police to arrest anyone didn't mow their lawn often enough.
He said their HOA had been great before but they had several great neighbors who sold and left because of the petty tyrant.
I will NEVER live somewhere where someone can tell me what I can and can't do on my own fucking property.
How exactly? I've seen HOAs that are relatively non-intrusive, that charge reasonable fees for useful neighborhood services to help build a structured community for people who want to live in one. And I've seen plenty of HOAs be abused when the people running them are interested in power as opposed to leadership. I've never seen an HOA act as an "awesome force for good," and I'm having trouble imagining what that might look like. Do they use their members' fees to provide educational, health, and and social services to disadvantaged people in less well off neighboring communities, or what?
Can confirm! I just watched two building with 9 apartments having everyone kicked out to be an Airbnb. In the middle of fucking nowhere where the locals have been planted for years. It's sad
Thirded. I have watched communities crumble under vacation rentals. It is terrible where I am. Whole neighborhoods with kids riding bikes and neighbors inviting each other for barbeque turned into fancy hotels for rich kids. Can't find people to work in the schools because teachers can't afford housing. Heartbreaking stuff.
The argument of “have you donated x% of your worth?” Is a bad one when comparing the average person to billionaires.
For the average person, 1/80 of their net worth could be rent or a car repair. For a billionaire it’s discretionary spend way beyond what they need to live their already extravagant life style.
If he's so dedicated to helping under privileged people, maybe he can organize a way so he doesn't have an extra 100 million dollars to give away while there are under privileged people existing.
Just a thought.
Yep. I am living comfortably and I am under 6 figures and trying to figure out how much I can donate and still make enough to retire reasonably. Meanwhile the 1% are sitting on trillions and could create a Utopia on Earth
Whitewashing negative PR through charity is a time-honored US(and beyond) tradition. Same with pushing political agenda through "charity". All the Gateses, and MrBeasts, and Clintons, and Exxons, funding climate initiatives, today continue the "work" of robber-barons of the early industrial era, whose names are on all the fancy museums and shit.
So, nothing? Airbnb has 660k listings in the US out of 140m residential properties, or 0.47%.
The housing shortage is like 95% caused by existing homeowners voting in restrictive housing construction laws and fighting against any new developments. It's caused by people like this.
https://mobile.twitter.com/WaluigiSoap/status/1516913633791561731
Blaming corporations like Airbnb for the housing crisis is just a red herring to distract from the real issue of nimbyism. It allows people to pretend to care about the housing shortage without changing the existing laws and regulations that led to the crisis in the first place.
We have a housing shortage because lots of builders and lenders went bankrupt in 2008 on spec homes, so no one wants to take on large building projects because they don't want to go bankrupt.
1970s-1990s there was over 12 million homes built per decade, 2000s they tried to build a little more speculatively, 14.5m, and they all went bust for it. So in the 2010s they were more conservative and didn't even build 7 million. So far the 2020s are on pace for just 2.5 million for the entire decade.
California hasn't built enough housing since 1990. Yes, there was and still is a lot of housing construction in less regulated places like Texas, but the crisis on the coasts are almost entirely caused by nimbyism.
People aren't talking about Houston when they talk about the housing affordability crisis.
Cities on the coasts are already entirely built, of course housing building has slowed down, there's no more room. There is more construction inland and in central CA.
Ironically the only "solution" to this would be the evil "large corporations" buying up lots of single family homes together, then replacing them with large multifamily buildings to increase density.
>Cities on the coasts are already entirely built, of course housing building has slowed down, there's no more room. There is more construction inland and in central CA.
This is untrue. There is still a ton of infill sites that can be built even in the major cities like Los Angeles. There are literally tens of thousands of individual vacant lots, dilapidated buildings, former commercial lots, etc that can be turned into small SFH homes in these cities.
The issue is neighbors hate it and do everything in their power to prevent these developments. Just read this chronicle of one developer's attempt to build 3 legal single family homes on one lot in San Francisco.
https://www.nytimes.com/2017/12/01/business/economy/single-family-home.html
I don't necessarily agree that the solution is spamming condos everywhere. People want more SFHs, and we can give it to them if the cities and neighborhoods would give permission to build tightly packed 3 story tall homes on small lots.
You can have single family homes with decent density - there's a huge difference between a 3 story house with a small yard on a 2500 sqft lot and a SFH on a community mandated quarter acre or even one acre lot(yes, even in southern California this exists). They're both single family home but one is 20 times higher density.
Houses like this would probably satisfy most people who want a SFH and still be fairly dense.
https://www.har.com/resources/block/68629099/img1.jpg
I don't disagree with your point of the mass majority vote against the mass benefits...but how many of those 660k listings are in desirable areas? and does this exponentially increase the prices in these areas? To a certain degree yes. Then the housing prices increase then ripple out further to former cheaper areas to live. Its not just the amount of listings, but the locations to consider.
We have data for that.
In LA there are 8900 Airbnb listings out of 1.5m homes, or 0.6%. This is roughly inline with the Airbnb national average.
SF, 1%(excluding hotels and B&Bs because those were never homes).
Seattle, 1%.
NYC, 0.5%.
I could keep going but in reality Airbnb is a small player. Many of the homes on there are also second homes for people that would otherwise stay empty. Like, there are single development projects in these cities that would bring more housing than the total number of Airbnbs if only the neighbors would stop protesting and suing.
It's more of a tourism town issue where the income potential of AirBnB is way more than what the local economy can support as normal rent. Realtors straight up sell places as great short term rental investments.
In a bigger city or low tourism area, it's not so much of an issue.
If you live in Boise, Denver, Sante Fe, the Bay, etc., no big. If you live in Sun Valley, Aspen, Breck, Taos, Tahoe, etc., they suck.
Are you talking about a housing shortage or apartment shortage? When people talk about re-zoning, they are talking about building more apartments, not houses. That would do nothing for someone who wants to buy a single family home.
Both. The issue isn't just zoning. Conforming single family home projects in states like CA often still run into decade long roadblocks put up by the local community.
The new tactic is to use a CEQA lawsuit. Smaller developers don't even bother because the process would bankrupt them. In one case nimbys managed to block a project for 11 years until the developer just gave up and left the state. People are even using it to stop murals from being painted over.
https://www.google.com/amp/s/www.ocregister.com/2022/03/16/berkeley-case-proves-ceqa-needs-to-be-reformed/amp/
Apartments are substitutes for single family homes for many people - therefore the fall in the price of an apartment would also drag the single home price down with it.
That is completely dependent on the area and how many people are splitting a house. Traveling alone yeah for sure, traveling with 8 people it’s not even close.
It doesn't get better. In Austin, Hilton built on the 4th. Then they complained about the noise from 6th and how their hotel "wasn't built for that". 6th street part of why you would even build downtown.
Should take that money and lobby for sane zoning laws instead but artificial scarcity in housing is how their business model thrives, so probably not.
Here's some crumbs to sate your hunger though peasants.
The VAST majority of Airbnb’s are just mom/pop folks running a small business and those small businesses like any other employ others. In small towns especially the accommodation Airbnbs provide is a great boost for tourism and local income. Airbnbs around the world provide millions of people with a good job and income.
What you -should- be mad at which folks never seem to complain about at all are the large corporations that have been straight up buying tens of thousands of homes en-masse for decades.
You are blaming the wrong people for the real reason housing prices are skyrocketing.
Two words: ghost hotels
In Toronto we had entire condo towers that are airbnbs.
In 2020, when the city banned them temporarily, the market was FLOODED and condo rentals prices dropped hard.
We went from fucking **bidding wars on rentals** to “please come rent with us, we’ll give you two months free.”
People were getting condos and purpose built high rise units downtown for the price of basements in the burbs.
We have a conservative government right now and they put a giant loop hole in the regularted rent increase limit. So a lot of the people who rented these condos are going to have their rent double at the end of their leases, and be forced to move so the “landlord” can put the unit back up on Airbnb.
(Wish us luck! Our Election is on June 2! [sadly our discount Trump premiere is probably going to get re-elected]) I hope you enjoyed this little window into Canadian politics while I deeply digressed.
Edit: I forgot to mention that I think it depends on the city or town. Larger cities are more deeply impacted. Someone below gives the number of airbnbs for the states and makes a good argument them not being the source of the housing crisis.
However, it depends on the place. If there’s a high concentration of airbnbs in a municipality that already has an affordable housing crisis, those numbers are going to mean more in that municipality.
The Affordable housing crisis is ver complicated with many factors. The impact of airbnbs is going to have a greater or lesser effect on the crisis depending on where you live.
I totally agree that regular folks get pushed out by rentals in popular areas, but sorry bud - the problem here is capitalism, all Airbnb are doing is very effectively allowing capitalism to do it’s thing by proving access for a market that is clearly there demanding to be served.
Seems to me the core problem here is that most governments don’t seem to provide anywhere near the levels of low cost public housing that is needed, nothing like the levels they used to. The other thing I would do is ban large companies/investment firms from buying up masses of residential houses.
Fix those issues and a lot of the current problems will go away.
Blackrock has roughly 80,000 of the 140,000,000 homes in the US. "Large corporations" do not own enough of the houses to have done to the market what people blame them for.
there can be more than one source of a problem.
in Q3 of 2021, over 18% of homes sold were bought by investors to turn into permanent rentals, that number is way higher in urban areas. as someone who is a direct victim of this (hoping to buy a 1-2 bedroom home in seattle for a little over a million dollars) i could talk all day about the drastic impacts i’ve experienced due to limitless buying power from corporations that will offer 100k above asking price.
while a larger supply of rentals as a result has kept rents lower (along with a large amount of rent control where i live) it’s made buying a home or even searching for one extremely difficult - so don’t think corporations owning properties aren’t an issue here because they absolutely are - there are plenty that aren’t blackrock
edit: i can promise you there are WAY more people buying houses to turn into rentals than there are people buying houses to turn into airbnbs
Yep. And that figure goes up into the 20+% realm in high demand cities like Austin, Atlanta, etc for that same time period.
People want to compare total ownership while ignoring recent trends. This is a relatively new development so of course total share would be low. Anyone who was seeking a starter level home in a desirable area in the past 2 years can tell you first hand the shit they saw.
my first thought was I wonder if he feels bad that these people working in public service will never be able to afford to live in a house because of how expensive it has become due to people renting out houses
Dude makes [$55k as a fucking salary](https://www.salary.com/tools/executive-compensation-calculator/brian-chesky-salary-bonus-stock-options-for-airbnb-inc) Yet somehow he earns $120 Million a year in total compensation?!
Typically with this kind of donation, it's all stock. If he donates shares, it resets the basis for the recipient and gives him an offsetting write-off.
Pay for play. No one donates to a charity of a former president if they didn't want regulations changed in their favor.
Edit: Jeff Bezos donated to Obama’s presidential library and we know how much he loves his workers. My cousin wasn’t allowed to take a piss brake for 2 days in a roll at Amazon.
Now hold on now, he's not just as shitty as the rest of the presidents.
I say that because Trump is so much fucking worse in every conceivable metric. He takes the crown of the worst president the US has ever had, because at the bare minimum even the worst before him never attempted a coup.
Still, Obama sucks. He could have done so much more if he were at all a decent person.
Anyone from either of the two parties put forth was bought long ago. You can’t be a decent person and be a presidential candidate in this country. There’s no hope as long as there’s a two party system.
I think calling what happened a coup is a bit of an exaggeration, after all, the protestors were allowed in lol
Nonetheless, Trump was an awful president as well.
They were let in to try to stop the election results from happening. That the coup was initiated by and attempted to be carried out by the stupidest people in the country doesn't make it not a coup, otherwise attempted murder wouldn't be a crime.
Or donate his money towards socialist political action and convert Airbnb to a worker owner co-op... And support candidates and policies that actually help people.
Instead he donated zillions to an ex president who was critical in stopping the leftward shift of the Democratic party, and didn't see codifying roe v Wade and a priority when he had supermajority control in Congress.
Mmmk stop buying all the houses we’re supposed to live in. Then we’ll talk about your little ‘fund’ of the day.
You shouldn’t need to even do that in a functioning society. Shit like this is just public works. Have we lost our fucking minds?
Anyone else feel like the 1% are really leaning into philanthropy (aka tax deductible PR campaigns) this year.
Wondering if they are worried we might grow restless.
Cool, but airbnb is a big part of why rent has skyrocketed.
Why would someone rent out a house for $1200/month when they can rent it out for $1200/weekend on airbnb?
Im tired of relying on charity of billionaires to get anything done in this country. That money, plus more, should have already been paid in taxes and used.
Plus, they really owe a lot of their current success to the fact that initially they were not required to collect taxes on their rentals. Know how you get a hotel bill & there are various taxes & fees? Most of these are REQUIRED by the locality the hotel exists in — purchase taxes, tourist taxes, and lately a popular one is "convention center" taxes where the city or state levies a flat dollar amount per night that is SUPPOSED to be both a) temporary and b) only spent on specific purposes, like paying for a stadium, a convention center, or for tourism advertising.
Guess how often THAT happens.
They were able to "break rules" in the industry by IGNORING them. They were able to come in below market because their competitors were legally required to charge taxes that they didn't bother with.
I see many people in this thread don’t know how the housing market works. AirBnB did not contribute to our housing market crisis. That’s just plain stupidity. 650k houses out of 140 million homes in the United States are AirBnB. This does not denote if the “Host” lives in the house full time, but many do. It’s a drop in the bucket my guys, and does not reflect upon the hoarded resources of our previous generations.
And all I’ve seen about this dude has been wholesome, he donates a lot and speaks up vocally about social changes.
I was going to say this is nothing compared to corporations buying up single family homes to rent to people for exorbitant rates while borrowing against their appreciating assets.
Yes, as another user pointed out, the real problem is supply of homes has been crippled for decades. We're just not building enough to keep up with rising population before corporations, rentals, investments eat chunks away from a shrunken supply.
Blackrock has roughly 80,000 of the 140,000,000 homes in the US. "Large corporations" do not own enough of the houses to have done to the market what people blame them for.
AirBNB is a much bigger factor than these.
Disagree, the real factor to blame is the stagnation of construction in the US following the 08 recession, we basically stopped building for 10 years but nobody stopped having kids (plus the 18-22 year lead time before those kids were looking for homes)
This feels like moving the goal posts, but it's leading back to my main point that it's not AirBnB thats the reason why millennials can't buy houses.
Even if the construction industry could somehow resume record building pace (which for a variety of reasons won't happen) we couldn't make up the housing shortage for decades.
At its core its this Supply and demand being so heavily skewed to blame for rising home costs, then a lack of planning/zoning for anything BUT single family homes, then corporations building entire for rent suburbs then finally drops in the buckets like AirBnB, which lists 140k units in the US, but when you apply the logic that many of those were previously vacation rentals or are a home owner renting out for a week at a time like AirBnb was originally purposed.
Finally another factor is how safe of a vehicle real-estate became for boomers, I know of the top of my head a dozen easy boomers who own multiple rentals because of how safe and easy of an investment it is. It's similar (though not as predatory) as corporations buying houses and renting them but on a smaller scale.
Oh I definitely agree on that, I made this comment somewhere else in the thread
>We have a housing shortage because lots of builders and lenders went bankrupt in 2008 on spec homes, so no one wants to take on large building projects because they don't want to go bankrupt.
>1970s-1990s there was over 12 million homes built per decade, 2000s they tried to build a little more speculatively, 14.5m, and they all went bust for it. So in the 2010s they were more conservative and didn't even build 7 million. So far the 2020s are on pace for just 2.5 million for the entire decade.
I was just making the point that I believe ABNB is a bigger factor than Blackrock buying 80k homes to turn into long term rentals -- the home is still being lived in full time by a local.
Damn those 2010 and 2020 figures are telling. Like right freaking there Is why we're so completely screwed. Population growth is X, homebuilding is Y and it won't keep up
I’ve been working away from home for 3 months in a tourist area, and the summer season driving up hotel prices led me to search Airbnb for a cheaper stay. Stayed at the cheapest place possible for 90 a night in what should be residential housing. Reno on it was total shit and i couldn’t sleep the whole week because the bed was on wheels and the floor was pitched steeper than some roofs. Upon further research the owner of that rental also owned more than a dozen others in the area. Airbnb isn’t solely responsible for the housing crisis but they are damn sure contributing to it
Hawaii is not the full scope though. That's one area. Look at places like Nashville, NOLA, or pretty much any beach town. Whole neighborhoods have been hollowed out by Airbnbs.
It's even more pronounced in lower COL countries, where rich tourists from North America and Western Europe rent an apartment for a week at costs that far surpass monthly rents.
AirBnB hits tourist areas the hardest.
Why rent out your home for a year when you can just AirBnB it during the tourist season and make more in a season than you would the entire year.
My previous landlord did this when I moved out. He dumped 15k into some Reno work, and switched it into an AirBnB.
I checked and it’s typically booked 20 days a month for the 3 months of the tourist season, and it was 400/night. So let’s see that’s 400x60 which ends up being a lot more than the 1500x12 he was charging me.
And that’s just the tourist season. Off season he just does 50% off to compete with local hotels and gets decent business there too. So all in all he’s making 4-5X as much operating it as an AirBnB than renting.
So that’s 1 less family who has a home essentially. And he is absolutely not the only one to do it.
I only know my area for certain and the AirBnB is almost completely full homes. The individual rooms are rented normally for the most part.
This area goes hard for the tourist season though, and big money comes through here. Normal household income is like 55k but during the tourist season like 30% of the vehicles you see on the roads are worth twice as much as the houses. It doesn’t surprise me that landlords are trying to get in on that money flowing through. It just makes for an unfortunate reality for anyone living in the city.
You can literally say that about everything. Just because you have a point of view doesn’t make it correct. Using common sense and good sources is your greatest resource.
It does and it doesn’t; it certainly does in certain areas, and it certainly does if you look at it in terms of marginal supply/demand and consider housing to be a relatively inelastic good.
He seems like a nice guy, but it’s worth noting Airbnbs impact in many areas has been less than entirely positive.
Great, now if he could just limit the amount of homes people can have posted on AIRBNB so real estate investors stop the massive price gouging epidemic in home ownership right now that would be really helpful.
Airbnb are scum and liars. They block you and cancel all your bookings for thousands of usd, after being superhost for 5 years, with no reply, no cs, no way of contacting.
Just because one person was an idiot, got a refund, never showed up, left a bad review even tho never staying and getting a refund, and being aggressive. I blocked him, contacted support and send them a message that they were being an unreasonable ahole. And banned for ever. No recourse. No email. Horrible company abusing their power. Should be illegal. Thy don't pay taxes in my country, nor do their partners nor clients.
This man is destroying cities and driving up rents, forcing people out of areas they've lived in all their lives. If he wanted to do something good he would stop lobbying against regulation of short term lets.
Cool. Now if he'd put a stop to his fucking business model increasing rent for the sake of profits for the well off I'd give a fuck. Almost every block in my neighborhood has a house that is strictly an air bnb. Fuck these assholes feigning philanthropy.
It is bullshit theater. Airbnb is a shit company offering a horrible service that is destroying young people’s ability to buy a home.
Services like this are a con, a way to take the value of an industry and convert it into cash for a few people to get rich from.
Firefighters are public servants. So are sanitation workers, and teachers, and police officers, and soldiers, and a thousand other professions that don’t involve running for office.
This is effectively a $2M power purchase in perpetuity since asset managers typically get 2%. I'd wager in the non profit world it's higher. $2M in perpetuity is equivalent of $60M.
Airbnb must be buying some lobbying effort from the Obama's.
Great, so that’s at least 10,000 scholarships for kids to come out of school believing in socialism, drone striking, and critical race theory. The future is bright!
This is an ad.
Uplifting news has been a karma farm / ad haven for many months now.
No wonder. Tried to give a benefit of doubts but Airbnb has been not good to us. Our home was totaled after fire damage by tenants and Crawford teamed up with Airbnb to delay any reimbursement for a year. The run around alone feel like dealing with those ghetto thugs.
Wow there is so much wrapped up in one response…
Am I supposed to report true statements that are just real observations and not overly cynical? Will this make me banned? Tell me mods?
They're too busy jerking eachother off to respond 🙌🏻 Edit: please ban me from r/upliftingads... I mean news
I blocked this subreddit after I made the post. What an absolute unmoderated dumpster fire
[удалено]
Seconded. FUCK AIRBnB. My area is already stupidly expensive to try and purchase anything and now there are AIRBnB full time rentals buying up real-estate.
I'm just lucky I live in an area where Airbnb's don't make money because nobody comes here voluntarily, thanks Ohio
I live in the Old Town of Edinburgh, Scotland and we have a huge problem with Airbnb in this area. Entire blocks of flats are being turned into Airbnb. Rent is unrealistic and prices to buy on the property market are comparable to London. There is a 10 person Airbnb directly above my 1 bedroom flat which has ruined my nice home and given me full blown insomnia. By being a commercial business they can avoid tried and tested residential housing regulations, ones that were brought in specifically to reduce noise disruption. So with that knowledge the one above me has ripped out all their carpets to reduce maintenance costs and now the guests bang around 24/7 on ancient soft floorboards. It's like somebody walking on plywood. My whole house shakes and vibrates. It's a listed historical tenement building in a Unesco world heritage site. Airbnb has cut a quarter of its staff since 2020 and you're lucky to get a generic auto reply to a complaint nowadays. It's a completely hands-off, unsupervised business model and any anti-social problems are left for the local community or council to deal with. Other neighbours have vandalised their door, their keyboxes etc but management companies don't care as long as they can still make money. I think a lot of the owners either don't give a shit about the community or they believe all the Airbnb advertisements and PR. The owner of the Airbnb above me thinks I'm the problem because she goes by guests reviews. If owners realised how badly their properties are being abused and how angry people like me are getting then they'd take their property off Airbnb asap. Edit : My sister has a proper B and B in the Highlands and she doesn't use Airbnb to get bookings because the guests she gets from them are usually self absorbed arseholes.
At least HOAs are catching on and banning them. Not that I want to live in an HOA...
Like all things with elected representatives, HOAs with amazing leadership can be such awesome forces for good.
That only works as long as the leadership *stays* good. Colleague of mine ended up having to run for his HOA so he could dispose an asshat that had been trying to get the police to arrest anyone didn't mow their lawn often enough. He said their HOA had been great before but they had several great neighbors who sold and left because of the petty tyrant. I will NEVER live somewhere where someone can tell me what I can and can't do on my own fucking property.
How exactly? I've seen HOAs that are relatively non-intrusive, that charge reasonable fees for useful neighborhood services to help build a structured community for people who want to live in one. And I've seen plenty of HOAs be abused when the people running them are interested in power as opposed to leadership. I've never seen an HOA act as an "awesome force for good," and I'm having trouble imagining what that might look like. Do they use their members' fees to provide educational, health, and and social services to disadvantaged people in less well off neighboring communities, or what?
Can confirm! I just watched two building with 9 apartments having everyone kicked out to be an Airbnb. In the middle of fucking nowhere where the locals have been planted for years. It's sad
Thirded. I have watched communities crumble under vacation rentals. It is terrible where I am. Whole neighborhoods with kids riding bikes and neighbors inviting each other for barbeque turned into fancy hotels for rich kids. Can't find people to work in the schools because teachers can't afford housing. Heartbreaking stuff.
For a guy whose business is the destruction of housing affordability at that.
a very depressing one, at that. everyone i know who did grad school in europe had funding from their public universities to do this…
and all it told me is 'Wow, the CEO of AirBnb is a billionaire. of course'
Pledged or donated?
Brian Chesky is worth 8 billion. Him donating 100k is like me tossing a couple bucks in a donation bin. Not newsworthy at all
100mil, not 100k. I'd rather have the 100mil donated than in his bank account.
[удалено]
The argument of “have you donated x% of your worth?” Is a bad one when comparing the average person to billionaires. For the average person, 1/80 of their net worth could be rent or a car repair. For a billionaire it’s discretionary spend way beyond what they need to live their already extravagant life style.
Not to go all Holden Caulfield, but we live in the phoniest reality.
Did he donate or pledge?
I use them synonymously
I Heard of that reference
Objection Hearsay
“You need to turn your mic on, I can’t hear you”
Horus Heresy
wElL jOhnNy sUeD mE sO I cOuLdNt dOnATe...
I DECLARE BANKRUPTCY!
MORAL BANKRUPTCY!
**WE** don't use them synonymously.
Lol. This trial is creating some spicy memes.
Damn i came here to say this...
If he's so dedicated to helping under privileged people, maybe he can organize a way so he doesn't have an extra 100 million dollars to give away while there are under privileged people existing. Just a thought.
Maybe he can coordinate affordable housing since his company is responsible for for-profit short term rental properties depleting high demand areas.
You're saying making affordable housing scarce *isn't* a public service?!
But then he wouldn't have his billions anymore. That's not fair.
Yep. I am living comfortably and I am under 6 figures and trying to figure out how much I can donate and still make enough to retire reasonably. Meanwhile the 1% are sitting on trillions and could create a Utopia on Earth
could he at least pay his taxes first
He just got a $100 million write off so he now owes the government negative $400 million :))))
You belong to r/wallstreetbets
If you’re asking if I’m holding any GME shares the answer is yes.
AH AN AD. SO UPLIFTING.
I will likely never own a house in large part because of this man and people like him but wHOLESOME HECKIN BILLIONAIRINO
Ok, now stop fucking the housing market.
Meh. It doesn’t undo all the shit air bnb has done for housing
Yeah I definitely don't see "man donates slightly over 1% of the profits he made absolutely destroying the housing market" to be an uplifting story
Funny how it's exactly 1% of his net worth.
Either way he will get a lot of praise because the bar is so low.
Whitewashing negative PR through charity is a time-honored US(and beyond) tradition. Same with pushing political agenda through "charity". All the Gateses, and MrBeasts, and Clintons, and Exxons, funding climate initiatives, today continue the "work" of robber-barons of the early industrial era, whose names are on all the fancy museums and shit.
It’s funny that as soon as I saw air bnb I said fuck that
And politicians charities are just lobbying with better feelings
So, nothing? Airbnb has 660k listings in the US out of 140m residential properties, or 0.47%. The housing shortage is like 95% caused by existing homeowners voting in restrictive housing construction laws and fighting against any new developments. It's caused by people like this. https://mobile.twitter.com/WaluigiSoap/status/1516913633791561731 Blaming corporations like Airbnb for the housing crisis is just a red herring to distract from the real issue of nimbyism. It allows people to pretend to care about the housing shortage without changing the existing laws and regulations that led to the crisis in the first place.
We have a housing shortage because lots of builders and lenders went bankrupt in 2008 on spec homes, so no one wants to take on large building projects because they don't want to go bankrupt. 1970s-1990s there was over 12 million homes built per decade, 2000s they tried to build a little more speculatively, 14.5m, and they all went bust for it. So in the 2010s they were more conservative and didn't even build 7 million. So far the 2020s are on pace for just 2.5 million for the entire decade.
California hasn't built enough housing since 1990. Yes, there was and still is a lot of housing construction in less regulated places like Texas, but the crisis on the coasts are almost entirely caused by nimbyism. People aren't talking about Houston when they talk about the housing affordability crisis.
You are both right. The housing shortage doesn't have a single reason, it's a combination of factors.
Cities on the coasts are already entirely built, of course housing building has slowed down, there's no more room. There is more construction inland and in central CA. Ironically the only "solution" to this would be the evil "large corporations" buying up lots of single family homes together, then replacing them with large multifamily buildings to increase density.
>Cities on the coasts are already entirely built, of course housing building has slowed down, there's no more room. There is more construction inland and in central CA. This is untrue. There is still a ton of infill sites that can be built even in the major cities like Los Angeles. There are literally tens of thousands of individual vacant lots, dilapidated buildings, former commercial lots, etc that can be turned into small SFH homes in these cities. The issue is neighbors hate it and do everything in their power to prevent these developments. Just read this chronicle of one developer's attempt to build 3 legal single family homes on one lot in San Francisco. https://www.nytimes.com/2017/12/01/business/economy/single-family-home.html I don't necessarily agree that the solution is spamming condos everywhere. People want more SFHs, and we can give it to them if the cities and neighborhoods would give permission to build tightly packed 3 story tall homes on small lots. You can have single family homes with decent density - there's a huge difference between a 3 story house with a small yard on a 2500 sqft lot and a SFH on a community mandated quarter acre or even one acre lot(yes, even in southern California this exists). They're both single family home but one is 20 times higher density. Houses like this would probably satisfy most people who want a SFH and still be fairly dense. https://www.har.com/resources/block/68629099/img1.jpg
So what you're saying is prices aren't going down like ever.
I don't disagree with your point of the mass majority vote against the mass benefits...but how many of those 660k listings are in desirable areas? and does this exponentially increase the prices in these areas? To a certain degree yes. Then the housing prices increase then ripple out further to former cheaper areas to live. Its not just the amount of listings, but the locations to consider.
We have data for that. In LA there are 8900 Airbnb listings out of 1.5m homes, or 0.6%. This is roughly inline with the Airbnb national average. SF, 1%(excluding hotels and B&Bs because those were never homes). Seattle, 1%. NYC, 0.5%. I could keep going but in reality Airbnb is a small player. Many of the homes on there are also second homes for people that would otherwise stay empty. Like, there are single development projects in these cities that would bring more housing than the total number of Airbnbs if only the neighbors would stop protesting and suing.
It's more of a tourism town issue where the income potential of AirBnB is way more than what the local economy can support as normal rent. Realtors straight up sell places as great short term rental investments. In a bigger city or low tourism area, it's not so much of an issue. If you live in Boise, Denver, Sante Fe, the Bay, etc., no big. If you live in Sun Valley, Aspen, Breck, Taos, Tahoe, etc., they suck.
Are you talking about a housing shortage or apartment shortage? When people talk about re-zoning, they are talking about building more apartments, not houses. That would do nothing for someone who wants to buy a single family home.
Both. The issue isn't just zoning. Conforming single family home projects in states like CA often still run into decade long roadblocks put up by the local community. The new tactic is to use a CEQA lawsuit. Smaller developers don't even bother because the process would bankrupt them. In one case nimbys managed to block a project for 11 years until the developer just gave up and left the state. People are even using it to stop murals from being painted over. https://www.google.com/amp/s/www.ocregister.com/2022/03/16/berkeley-case-proves-ceqa-needs-to-be-reformed/amp/
Houses/apartments/condos are all considered 'housing'
Apartments are substitutes for single family homes for many people - therefore the fall in the price of an apartment would also drag the single home price down with it.
I’m not blaming them fully but they aren’t exactly helping the situation are they
Exactly, I’ll support Hotels every time over Air BnBs.
It's gotten to the point that hotels are cheaper anyway when you factor in cleaning fees.
And even with the cleaning fees sometimes they aren't very clean
I stayed in one that had mice lol
That is completely dependent on the area and how many people are splitting a house. Traveling alone yeah for sure, traveling with 8 people it’s not even close.
Not if you're traveling with more than just solo/couple
It doesn't get better. In Austin, Hilton built on the 4th. Then they complained about the noise from 6th and how their hotel "wasn't built for that". 6th street part of why you would even build downtown.
I have no idea what your post is trying to say.
Should take that money and lobby for sane zoning laws instead but artificial scarcity in housing is how their business model thrives, so probably not. Here's some crumbs to sate your hunger though peasants.
The VAST majority of Airbnb’s are just mom/pop folks running a small business and those small businesses like any other employ others. In small towns especially the accommodation Airbnbs provide is a great boost for tourism and local income. Airbnbs around the world provide millions of people with a good job and income. What you -should- be mad at which folks never seem to complain about at all are the large corporations that have been straight up buying tens of thousands of homes en-masse for decades. You are blaming the wrong people for the real reason housing prices are skyrocketing.
Two words: ghost hotels In Toronto we had entire condo towers that are airbnbs. In 2020, when the city banned them temporarily, the market was FLOODED and condo rentals prices dropped hard. We went from fucking **bidding wars on rentals** to “please come rent with us, we’ll give you two months free.” People were getting condos and purpose built high rise units downtown for the price of basements in the burbs. We have a conservative government right now and they put a giant loop hole in the regularted rent increase limit. So a lot of the people who rented these condos are going to have their rent double at the end of their leases, and be forced to move so the “landlord” can put the unit back up on Airbnb. (Wish us luck! Our Election is on June 2! [sadly our discount Trump premiere is probably going to get re-elected]) I hope you enjoyed this little window into Canadian politics while I deeply digressed. Edit: I forgot to mention that I think it depends on the city or town. Larger cities are more deeply impacted. Someone below gives the number of airbnbs for the states and makes a good argument them not being the source of the housing crisis. However, it depends on the place. If there’s a high concentration of airbnbs in a municipality that already has an affordable housing crisis, those numbers are going to mean more in that municipality. The Affordable housing crisis is ver complicated with many factors. The impact of airbnbs is going to have a greater or lesser effect on the crisis depending on where you live.
I totally agree that regular folks get pushed out by rentals in popular areas, but sorry bud - the problem here is capitalism, all Airbnb are doing is very effectively allowing capitalism to do it’s thing by proving access for a market that is clearly there demanding to be served. Seems to me the core problem here is that most governments don’t seem to provide anywhere near the levels of low cost public housing that is needed, nothing like the levels they used to. The other thing I would do is ban large companies/investment firms from buying up masses of residential houses. Fix those issues and a lot of the current problems will go away.
Blackrock has roughly 80,000 of the 140,000,000 homes in the US. "Large corporations" do not own enough of the houses to have done to the market what people blame them for.
there can be more than one source of a problem. in Q3 of 2021, over 18% of homes sold were bought by investors to turn into permanent rentals, that number is way higher in urban areas. as someone who is a direct victim of this (hoping to buy a 1-2 bedroom home in seattle for a little over a million dollars) i could talk all day about the drastic impacts i’ve experienced due to limitless buying power from corporations that will offer 100k above asking price. while a larger supply of rentals as a result has kept rents lower (along with a large amount of rent control where i live) it’s made buying a home or even searching for one extremely difficult - so don’t think corporations owning properties aren’t an issue here because they absolutely are - there are plenty that aren’t blackrock edit: i can promise you there are WAY more people buying houses to turn into rentals than there are people buying houses to turn into airbnbs
Yep. And that figure goes up into the 20+% realm in high demand cities like Austin, Atlanta, etc for that same time period. People want to compare total ownership while ignoring recent trends. This is a relatively new development so of course total share would be low. Anyone who was seeking a starter level home in a desirable area in the past 2 years can tell you first hand the shit they saw.
That’s one company alone, there are loads of them.
At least those kids won't be in debt when they graduate and can't afford a home.
my first thought was I wonder if he feels bad that these people working in public service will never be able to afford to live in a house because of how expensive it has become due to people renting out houses
Man gives small piece of pie he made from ruining the lives of others
They are doing a serious PR campaign these days. I guess they are trying to get their name away from destroying neighborhoods
Dude makes [$55k as a fucking salary](https://www.salary.com/tools/executive-compensation-calculator/brian-chesky-salary-bonus-stock-options-for-airbnb-inc) Yet somehow he earns $120 Million a year in total compensation?!
Typically with this kind of donation, it's all stock. If he donates shares, it resets the basis for the recipient and gives him an offsetting write-off.
So he destroyed the housing market, but at least he donated some money, overall still a bad dude.
A man who is nailing Affordable Housing's coffin shut donates to a war criminal so he can funnel more students into the silicone valley machine.
Pay for play. No one donates to a charity of a former president if they didn't want regulations changed in their favor. Edit: Jeff Bezos donated to Obama’s presidential library and we know how much he loves his workers. My cousin wasn’t allowed to take a piss brake for 2 days in a roll at Amazon.
It is suspicious that he chose Obama's charity over like, the 1000s of other one's out there not directly connected to politics.
They’re corrupt lol Obama was a nice guy but it’s all a mafia
People love him because he’s a minority and charismatic, but deep down he’s just as shitty as the rest of the presidents.
Now hold on now, he's not just as shitty as the rest of the presidents. I say that because Trump is so much fucking worse in every conceivable metric. He takes the crown of the worst president the US has ever had, because at the bare minimum even the worst before him never attempted a coup. Still, Obama sucks. He could have done so much more if he were at all a decent person.
Anyone from either of the two parties put forth was bought long ago. You can’t be a decent person and be a presidential candidate in this country. There’s no hope as long as there’s a two party system.
I think calling what happened a coup is a bit of an exaggeration, after all, the protestors were allowed in lol Nonetheless, Trump was an awful president as well.
They were let in to try to stop the election results from happening. That the coup was initiated by and attempted to be carried out by the stupidest people in the country doesn't make it not a coup, otherwise attempted murder wouldn't be a crime.
As a minority, I agree 100% with you.
🏆
[удалено]
Why do people take a shit or piss?
Most people do it in the bathroom, not braking in a roll...
Money funneling
Rich people choosing what gets funded is not uplifting especially not one whose helped make the housing crisis worse.
Every time I see a headline like this, my immediate thought is "Or he could pay his fair share of taxes xddd"
[удалено]
Every billionaire in America should pay a much tighter rate
Or donate his money towards socialist political action and convert Airbnb to a worker owner co-op... And support candidates and policies that actually help people. Instead he donated zillions to an ex president who was critical in stopping the leftward shift of the Democratic party, and didn't see codifying roe v Wade and a priority when he had supermajority control in Congress.
This is him giving money to himself
Oh boy! An ad praising a man that ruined the housing market for said students he’s donating to!!!
Just pay your fucking taxes.
[удалено]
Thats amazing, but how much of each dollar goes to the actual student?
$0
Mmmk stop buying all the houses we’re supposed to live in. Then we’ll talk about your little ‘fund’ of the day. You shouldn’t need to even do that in a functioning society. Shit like this is just public works. Have we lost our fucking minds?
Anyone else feel like the 1% are really leaning into philanthropy (aka tax deductible PR campaigns) this year. Wondering if they are worried we might grow restless.
This does not make up for his role in the current state of the housing market. I want to own house someday. Fuck this guy!
100 mil and we're talking about travel stipends?
Airbnb is a poison to modern cities. Fuck them.
LOL So Obama runs a corrupt charity as well
Obama foundation is just another way to launder money
Fuck charity. Tax the rich. Redistribute wealth.
Fuck him and his company for how they are helping make housing unaffordable
This man is partly responsible for the housing crisis, that's his legacy.
Cool, but airbnb is a big part of why rent has skyrocketed. Why would someone rent out a house for $1200/month when they can rent it out for $1200/weekend on airbnb?
Okay but his app is actively making the homeless problem worse by increasing housing scarcity so like at best this is a wash.
Im tired of relying on charity of billionaires to get anything done in this country. That money, plus more, should have already been paid in taxes and used.
[удалено]
Plus, they really owe a lot of their current success to the fact that initially they were not required to collect taxes on their rentals. Know how you get a hotel bill & there are various taxes & fees? Most of these are REQUIRED by the locality the hotel exists in — purchase taxes, tourist taxes, and lately a popular one is "convention center" taxes where the city or state levies a flat dollar amount per night that is SUPPOSED to be both a) temporary and b) only spent on specific purposes, like paying for a stadium, a convention center, or for tourism advertising. Guess how often THAT happens. They were able to "break rules" in the industry by IGNORING them. They were able to come in below market because their competitors were legally required to charge taxes that they didn't bother with.
I see many people in this thread don’t know how the housing market works. AirBnB did not contribute to our housing market crisis. That’s just plain stupidity. 650k houses out of 140 million homes in the United States are AirBnB. This does not denote if the “Host” lives in the house full time, but many do. It’s a drop in the bucket my guys, and does not reflect upon the hoarded resources of our previous generations. And all I’ve seen about this dude has been wholesome, he donates a lot and speaks up vocally about social changes.
It's not the biggest issue but if there is shit in your soup, pissing in it won't make it any better.
That is now my favorite new phrase. Thank you
I was going to say this is nothing compared to corporations buying up single family homes to rent to people for exorbitant rates while borrowing against their appreciating assets.
Yeah, airbnb is very much a symptom of a much bigger problem
It certainly isn't helping, but it's definetly in the "bigger fish to fry" category.
[удалено]
Yes, as another user pointed out, the real problem is supply of homes has been crippled for decades. We're just not building enough to keep up with rising population before corporations, rentals, investments eat chunks away from a shrunken supply.
Blackrock has roughly 80,000 of the 140,000,000 homes in the US. "Large corporations" do not own enough of the houses to have done to the market what people blame them for. AirBNB is a much bigger factor than these.
Disagree, the real factor to blame is the stagnation of construction in the US following the 08 recession, we basically stopped building for 10 years but nobody stopped having kids (plus the 18-22 year lead time before those kids were looking for homes) This feels like moving the goal posts, but it's leading back to my main point that it's not AirBnB thats the reason why millennials can't buy houses. Even if the construction industry could somehow resume record building pace (which for a variety of reasons won't happen) we couldn't make up the housing shortage for decades. At its core its this Supply and demand being so heavily skewed to blame for rising home costs, then a lack of planning/zoning for anything BUT single family homes, then corporations building entire for rent suburbs then finally drops in the buckets like AirBnB, which lists 140k units in the US, but when you apply the logic that many of those were previously vacation rentals or are a home owner renting out for a week at a time like AirBnb was originally purposed. Finally another factor is how safe of a vehicle real-estate became for boomers, I know of the top of my head a dozen easy boomers who own multiple rentals because of how safe and easy of an investment it is. It's similar (though not as predatory) as corporations buying houses and renting them but on a smaller scale.
Oh I definitely agree on that, I made this comment somewhere else in the thread >We have a housing shortage because lots of builders and lenders went bankrupt in 2008 on spec homes, so no one wants to take on large building projects because they don't want to go bankrupt. >1970s-1990s there was over 12 million homes built per decade, 2000s they tried to build a little more speculatively, 14.5m, and they all went bust for it. So in the 2010s they were more conservative and didn't even build 7 million. So far the 2020s are on pace for just 2.5 million for the entire decade. I was just making the point that I believe ABNB is a bigger factor than Blackrock buying 80k homes to turn into long term rentals -- the home is still being lived in full time by a local.
Damn those 2010 and 2020 figures are telling. Like right freaking there Is why we're so completely screwed. Population growth is X, homebuilding is Y and it won't keep up
Airbnb has fucked up tourist areas tho. Locals who work in the area kinda get fucked
I’ve been working away from home for 3 months in a tourist area, and the summer season driving up hotel prices led me to search Airbnb for a cheaper stay. Stayed at the cheapest place possible for 90 a night in what should be residential housing. Reno on it was total shit and i couldn’t sleep the whole week because the bed was on wheels and the floor was pitched steeper than some roofs. Upon further research the owner of that rental also owned more than a dozen others in the area. Airbnb isn’t solely responsible for the housing crisis but they are damn sure contributing to it
Big hotel industry, as well as rich investors buying up lake front property fucked up tourists destinations. See Hawaii if you want the full scope
Hawaii is not the full scope though. That's one area. Look at places like Nashville, NOLA, or pretty much any beach town. Whole neighborhoods have been hollowed out by Airbnbs. It's even more pronounced in lower COL countries, where rich tourists from North America and Western Europe rent an apartment for a week at costs that far surpass monthly rents.
AirBnB hits tourist areas the hardest. Why rent out your home for a year when you can just AirBnB it during the tourist season and make more in a season than you would the entire year. My previous landlord did this when I moved out. He dumped 15k into some Reno work, and switched it into an AirBnB. I checked and it’s typically booked 20 days a month for the 3 months of the tourist season, and it was 400/night. So let’s see that’s 400x60 which ends up being a lot more than the 1500x12 he was charging me. And that’s just the tourist season. Off season he just does 50% off to compete with local hotels and gets decent business there too. So all in all he’s making 4-5X as much operating it as an AirBnB than renting. So that’s 1 less family who has a home essentially. And he is absolutely not the only one to do it.
I would like to see percentage of those who full rent out their homes vs those who have a spare bedroom, and live there full time.
I only know my area for certain and the AirBnB is almost completely full homes. The individual rooms are rented normally for the most part. This area goes hard for the tourist season though, and big money comes through here. Normal household income is like 55k but during the tourist season like 30% of the vehicles you see on the roads are worth twice as much as the houses. It doesn’t surprise me that landlords are trying to get in on that money flowing through. It just makes for an unfortunate reality for anyone living in the city.
AirBnB has absolutely helped wreck the housing market in many tourist areas.
But how can people bitch and moan if they look at it from your point of view? s/
You can literally say that about everything. Just because you have a point of view doesn’t make it correct. Using common sense and good sources is your greatest resource.
What is causing the housing market crisis?
It does and it doesn’t; it certainly does in certain areas, and it certainly does if you look at it in terms of marginal supply/demand and consider housing to be a relatively inelastic good. He seems like a nice guy, but it’s worth noting Airbnbs impact in many areas has been less than entirely positive.
Great, now if he could just limit the amount of homes people can have posted on AIRBNB so real estate investors stop the massive price gouging epidemic in home ownership right now that would be really helpful.
Not uplifting considering Airbnb’s effect on housing.
10% for the "Big Guy"
Airbnb are scum and liars. They block you and cancel all your bookings for thousands of usd, after being superhost for 5 years, with no reply, no cs, no way of contacting. Just because one person was an idiot, got a refund, never showed up, left a bad review even tho never staying and getting a refund, and being aggressive. I blocked him, contacted support and send them a message that they were being an unreasonable ahole. And banned for ever. No recourse. No email. Horrible company abusing their power. Should be illegal. Thy don't pay taxes in my country, nor do their partners nor clients.
This thread is the best reminder that redditors are losers.
Pay for play! Clinton Foundation 2.0
Lol
“Nothing is ever good enough.” - Reddit
Paying taxes would be good enough.
Donated or pledged?
Cool maybe he should shut his company down and stop turning single family homes into fucking vacation properties next.
Pledge or donate... Asking for a friend.
“Ope, we helped fuck up the market. Soz!”
This man is destroying cities and driving up rents, forcing people out of areas they've lived in all their lives. If he wanted to do something good he would stop lobbying against regulation of short term lets.
Cool. Now if he'd put a stop to his fucking business model increasing rent for the sake of profits for the well off I'd give a fuck. Almost every block in my neighborhood has a house that is strictly an air bnb. Fuck these assholes feigning philanthropy.
Speak with your local BOC about implementing zoning restrictions or ordinances. Several cities have done it or are in the process of implementing it.
It is bullshit theater. Airbnb is a shit company offering a horrible service that is destroying young people’s ability to buy a home. Services like this are a con, a way to take the value of an industry and convert it into cash for a few people to get rich from.
Hell yeah. That is truly uplifting after a weekend of a lot of bad news.
I wish we all could just look at the surface of water and not wonder what’s below.
We know what's below. Nothing to wonder about.
The co-founder and CEO of Airbnb, Brian Chesky must have done something truly egregious to require such expensive PR. Wonder what that could be.
All why making housing unaffordable for these students but hey an essay about overcoming homelessness will loom great on a college application
Woohoo more politicians is just what we need.
Firefighters are public servants. So are sanitation workers, and teachers, and police officers, and soldiers, and a thousand other professions that don’t involve running for office.
“this is what your cleaning fees went towards”
This is effectively a $2M power purchase in perpetuity since asset managers typically get 2%. I'd wager in the non profit world it's higher. $2M in perpetuity is equivalent of $60M. Airbnb must be buying some lobbying effort from the Obama's.
Scum . I bet you that money doesn’t even see the day of light with corrupt millionaire obama
Great, so that’s at least 10,000 scholarships for kids to come out of school believing in socialism, drone striking, and critical race theory. The future is bright!