What Airbnb Does to Renters, Employees, and Cities
“Since Airbnb helps homeowners take existing housing stock and turns some of it into short-term units, its biggest measured effect so far has been on housing prices—by repurposing units that might otherwise be long-term housing, it’s straining an already supply-short market. Rents rise in the process. The cities researchers have analyzed happen to be already-pricy coastal metros, meaning Airbnb is just one of many factors at play. But, researchers say it’s a powerful one. ‘I was surprised at how early in the process of Airbnb expanding into cities that it has measurable impacts on housing costs, Bivens says.”