Are short-term rentals to blame for the lack of housing?

[CODE200]

I don't think it's the cause, more like the increase in population and increase in speculation in real estate that's causing the lack of housing, with more people out there, it's guarantee that we will lose more space since it should be distributed. Regarding speculation, with more people buying property hoping it goes up in prices ends up with less available space since they will hold on to that piece of land that don't house anyone 365 days which leads to less housing for more people. Rentals are a problem too but they still provide housing for more people compare to those who buy properties only to build mansions.

[Inwestour]

I think this an issue only in touristic cities of touristic countries. OP mentions Greece with it, well I am also living at coastal Türkiye which is pretty similar with airbnbs and higher rents. I generally blame lack of new real estate. I think constructors don't have enough benefits to start new ones there is lack of proper housing in desirable cities. This is never an issue within smaller cities I suppose. I have a friebd living in Central Anatolia where housing is not big issue maybe except Ankara... And its capital so I think pretty normal.

In tourist cities, real estate is always more expensive, especially in those where the tourist season lasts for a certain period, because at other times there are few people who want to rent this property. Thus, they need to secure such an income for themselves that it is enough to maintain this housing, and to make a profit from this.

In big cities, everything is different, real estate prices are dictated by the market, the more competition, the more affordable housing will be for rent.

[Peanutswar]

In this, people want to use their extra assets or houses to use as a rental and there's nothing wrong here. Some of them have this already, and instead, the house not use better to use for the rental, so there's still a cashflow on it, Here in the Philippines some of people use those rentals because its more convenient they don't need to pay a lot of things like the taxes made by the house and if you are focusing with the long term goal you can dream your own house it's more convenient than not having a house. In some point to those people use their house for bnb its ideal only for the houses near in the top places could be known, near in city for the tourist attraction and have a nice view in just a short time frame they can earn more than the people who are employed in regular basis. They are using the house rental for a good cashflow there's nothing wrong with it.

[slapper]

Short term rentals are one thing that contributes to the lack of housing but they are not solely to blame. They can limit available housing stock in popular areas, other factors such as population growth, limited construction & financial challenges also play a role. It's important to consider the overall housing ecosystem when addressing this issue. Solutions could involve balanced regulations that encourage both short term rentals and long term housing, incentivising construction & promoting affordable housing initiatives to ensure everyone has a place to call home.

To top it off, short-term rentals impact how people live, right? But blaming them alone would be like blaming the rain for a terrible day. However, forgetting an umbrella or wearing the incorrect shoes can ruin a day even if it rains

Still, population increase resembles baked bread. Sometimes there's a lot, sometimes not, so we adjust our plans. Another remarkable thing about this bread is its poor construction. Maybe the oven is too small? However, money troubles are like not having enough change to buy that loaf of bread. To digress, you're right that the housing environment must be considered

Your point about fair rules is like Goldilocks: not too hot, nor too cold. Just the appropriate strategy is needed. Giving a baker the correct tools and products may inspire them to bake. Affordable housing is like providing bread to everyone. Still, why bread? Apples or oranges? Why not? Your argument about giving everyone a home stands out among all these convoluted thoughts and bread metaphors

[dothebeats]

In this, people want to use their extra assets or houses to use as a rental and there's nothing wrong here. Some of them have this already, and instead, the house not use better to use for the rental, so there's still a cashflow on it, Here in the Philippines some of people use those rentals because its more convenient they don't need to pay a lot of things like the taxes made by the house and if you are focusing with the long term goal you can dream your own house it's more convenient than not having a house. In some point to those people use their house for bnb its ideal only for the houses near in the top places could be known, near in city for the tourist attraction and have a nice view in just a short time frame they can earn more than the people who are employed in regular basis. They are using the house rental for a good cashflow there's nothing wrong with it.

Maybe in a way, there is nothing wrong with it. It is after all more convenient and cheaper to rent than to own. However, having a house guarantees a place you can stay in once you decided to retire. You wouldn't have to worry about monthly fees once you settle all the costs you need to pay by owning a house. Moreover, having a house and lot is an asset you can rely on when everything goes south and you need the money. Rentals are fine, but they also do affect the lack of housing in a way as they could have been places for permanent home.

[dezoel]

Well, time changes and so does the dynamics of every business. A few years back, you wouldn't find renting a house an issue because the concept of working from home wasn't very widely adopted and used, and almost 98% of people used to work on-site compelling them to stay within the same city and country for years. But now, as you mentioned, most people work from home which simply means that they carry their workplace everywhere with them in the shape of a laptop.

This work-from-home culture has given people a lot of freedom and that freedom allows them to go anywhere they want, have fun, spend time in different cities, etc. Such people are simply on vacation while they are actually working. So I would say this culture is basically to be blamed for the lack of housing or the increased prices of rentals for locals in big cities around the world.

[Ultegra134]

I think this an issue only in touristic cities of touristic countries. OP mentions Greece with it, well I am also living at coastal Türkiye which is pretty similar with airbnbs and higher rents. I generally blame lack of new real estate. I think constructors don't have enough benefits to start new ones there is lack of proper housing in desirable cities. This is never an issue within smaller cities I suppose. I have a friebd living in Central Anatolia where housing is not big issue maybe except Ankara... And its capital so I think pretty normal.

You can probably relate to what I'm stating.Turkey also receives millions of tourists and is also a great country for digital nomads due to the relatively low cost of living, at least for outsiders who receive their salary from abroad.

Well, time changes and so does the dynamics of every business. A few years back, you wouldn't find renting a house an issue because the concept of working from home wasn't very widely adopted and used, and almost 98% of people used to work on-site compelling them to stay within the same city and country for years. But now, as you mentioned, most people work from home which simply means that they carry their workplace everywhere with them in the shape of a laptop.

This work-from-home culture has given people a lot of freedom and that freedom allows them to go anywhere they want, have fun, spend time in different cities, etc. Such people are simply on vacation while they are actually working. So I would say this culture is basically to be blamed for the lack of housing or the increased prices of rentals for locals in big cities around the world.

That's true; technology is evolving, and the world is rapidly changing. A few years ago, we wouldn't have thought that a pandemic would lock us in our houses and enable remote working for a large number of companies. Remote working has minimized borders and enabled people, both locals and foreigners, to work from home and be employed by a company not situated in the same country. Thus, it's not surprising to see a decrease in available housing. The combination of all these factors—AirBnBs, tourism, remote work, COVID-19, and so on—has affected the housing market tremendously, and there's no simple solution to this matter.

[shinratensei_]

its just really difficult problem to find out the root of it you see, even short term rental is just one of the factors, but I think the fact that the boomers out there hoarding as much real estate as they can is one of the problem.
they see it as some kind of prospective invesment that they tried to buy plot of lands and also real estate, its just overall what contributes to the fact that the housing price increase a lot linearly over the course of decades and I think this problem needs to be solved.
giving taxes to the ownership of that much real estate and housing isn't sufficient solution to this problem, i think need much more stricter regulation in regards of ownership like that.

[Wimex]

It is certainly unfortunate and reflects a problem that has become increasingly common in many cities around the world, especially those with a tourist appeal and an increase in demand for short-term rentals. . One of the ways to resolve this uncertainty would be for local and national authorities to implement regulations and policies that limit or regulate short-term rentals. Some cities have already begun to implement restrictions on property rentals through platforms such as Airbnb, limiting the number of days a property can be rented to tourists. Another possible solution that I see is that the government and local authorities could promote the construction of affordable housing for local residents. This could include investing in social housing projects or implementing incentives for developers who build affordable rental units.

As for the personal decision of how to deal with this situation, I would prefer to pay for quality housing. Other people may look for alternatives such as cooperation with roommates to share costs or other strategies ... the same whatever choice the person makes will depend on their financial capacity and their personal needs.

[jaberwock]

The problem is too complex, it is true that companies like Airbnb are part of the problem, however the problem is way deeper than that, due to the high inflation we went through due to the pandemic houses became more expensive and now more people are interested on renting, increasing the demand, however less houses were sold due to the higher prices reducing the supply, and now homeowners want to pay for their mortgage as soon as possible and they need to make as much money as they can while reducing the expenses their properties generate, and when you put the whole picture together then it is clear why this is happening to you and why if anything it could get worse during the short term.

Maybe for us we think they are a problem but for others who are benefiting from it, they think its a solution to their problem. We are lucky to have our own homes but what about the others who don't have? The only thing that they can do for now is to rent or live on the streets like a homeless person.

I think that can cause more problems to the society. Even without Airbnb, pandemic, and inflation, the price of the house are still expensive. They are increasing from time to time, which is why they are one of the best investments. Renting might still be a short-term solution, so renters should try to save and build their own homes later on.

[someone703]

In a difficult financial situation and housing problem, finding a personal solution like renting an average apartment can be a way to stay alive during difficult times. Waiting for the government to solve the problem can take time and doesn't always work.

Perhaps the government's focus on tourism rather than meeting basic needs of the people can lead to discontent and protests from the community. As you say, solving the problem of decent housing is an important factor in the stability and development of a society.

instead look for a personal solution like renting a small home or buying a home when you can. It is a temporary solution to secure daily life. And when you have a financial opportunity, buying a better place to live or moving to a new location is also a good option.

[Unbunplease]

In a difficult financial situation and housing problem, finding a personal solution like renting an average apartment can be a way to stay alive during difficult times. Waiting for the government to solve the problem can take time and doesn't always work.

Perhaps the government's focus on tourism rather than meeting basic needs of the people can lead to discontent and protests from the community. As you say, solving the problem of decent housing is an important factor in the stability and development of a society.

instead look for a personal solution like renting a small home or buying a home when you can. It is a temporary solution to secure daily life. And when you have a financial opportunity, buying a better place to live or moving to a new location is also a good option.

Another important issue is the quality of affordable housing. Often affordable housing is of terrible quality, because the cheapest materials are used for its construction. It is often impossible to live in such housing - constantly broken elevators, poor noise insulation, poor infrastructure.  It is better to rent housing than to buy it.

[darkangel11]

Although I understand your point, buying a used car and renting out a place are two completely different things. Both, however, are time-consuming and nerve-racking processes because, in both cases, you'll find an abundance of lemons. Theoretically, my partner and I have been on the lookout for a new rental house for over 6 months; we haven't been actively looking till now, but it's fair to say that nothing worthy has come up yet. The previous house we rented was in another city, which faced an even larger issue with housing: there weren't any available; your only chance was through word-of-mouth, no advertisements or anything. Thus, you're pretty much stuck with what you find. Where we currently live, there are a few houses available, but most of them are either too small or too expensive for what they offer.

Greece's minimum wage is €670 for all-year-round occupations, and the majority of businesses offer the lowest you can get. The average you'd receive is about €750–€800 because the minimum wage is for 40 hours of work per week and most jobs occupy you for at least 48 hours, which is practically 8 hours of overtime work. You can receive a greater salary if you work in the tourism sector, averaging €1000–€1200 per month for approximately 6–7 months at most. Then, you'll receive 3 months of unemployment benefits (€468 per month) until you return to work.

I'm already living with my partner, so we're splitting rent and utilities; however, that doesn't change the fact that €400 for a small apartment is too much when the minimum wage is so little.

What I find interesting is how renting sector manages to find people willing to pay that much if the minimum wage is so low?
Usually in places where minimum wage is around 1k EUR, you won't pay more than 500 for rent, so an apartment costs you half of the minimum wage (on the average). Why is it that Greece manages to sustain such imbalance? We could blame it on tourism, but then 3-4 months a year all these apartments stay unoccupied, so is renting 2/3 of the year and paying the tax for another 1/3 with no profit is better for all these people than simply renting out for long term and forgetting about the apartment for 2-3 years?

From what you wrote, you guys have a few options. One or both of you can seek a better job (tourism), or you can look for a bigger apartment that you can share with someone, preferably a pair like you. Costs of living in a bigger 2 bedroom place with 4 people would be much lower, or you can start working abroad, since even 800 is still a low wage in the EU.

[panganib999]

Yes. And they are also to blame for the impending housing collapse in the US. Most people fail to consider the notion that Airbnbs are more or less scams now. Previously they were made to compete against the conventional hotel experience since they provide a cozy and cheap housing solution for people who are on the go. When greedy motherfuckers caught wind of this affair they started buying properties for the sake of using them as Airbnb rentals, and since they generate income over the premise that they must always be filled with people, these people are dumbfounded when they find out that everyone is pretty much doing the same thing that they are doing, and it's not working anymore since these Airbnb rentals became overpriced that the people decided to just go back to renting on hotels. And this barely scrapes the surface of the whole housing fiasco.

[carlfebz2]

The problem is too complex, it is true that companies like Airbnb are part of the problem, however the problem is way deeper than that, due to the high inflation we went through due to the pandemic houses became more expensive and now more people are interested on renting, increasing the demand, however less houses were sold due to the higher prices reducing the supply, and now homeowners want to pay for their mortgage as soon as possible and they need to make as much money as they can while reducing the expenses their properties generate, and when you put the whole picture together then it is clear why this is happening to you and why if anything it could get worse during the short term.

Maybe for us we think they are a problem but for others who are benefiting from it, they think its a solution to their problem. We are lucky to have our own homes but what about the others who don't have? The only thing that they can do for now is to rent or live on the streets like a homeless person.

I think that can cause more problems to the society. Even without Airbnb, pandemic, and inflation, the price of the house are still expensive. They are increasing from time to time, which is why they are one of the best investments. Renting might still be a short-term solution, so renters should try to save and build their own homes later on.

We are living on a world on which rich people becomes even more richer and poor becomes even more poorer and this is why on the time that they do really have that kind of financial capability on which they would

really be normally establishing out themselves on building a business that would bring up some revenue because they do know that there's such demand on which they could really be able to make money on.
For people who dont have a house and cant able to afford the rent would definitely be having that kind of struggles in life and this is why ending up on being homeless.This is why it would really be that wise that
we should really be finding other source of income on which we could be able to afford on monthly payments or else we would really be that homeless.

Lets just deal up with this harshness of reality of this life because if we dont act accordingly then we would really be finding ourselves on great trouble.

[Ultegra134]

Maybe for us we think they are a problem but for others who are benefiting from it, they think its a solution to their problem. We are lucky to have our own homes but what about the others who don't have? The only thing that they can do for now is to rent or live on the streets like a homeless person.

I think that can cause more problems to the society. Even without Airbnb, pandemic, and inflation, the price of the house are still expensive. They are increasing from time to time, which is why they are one of the best investments. Renting might still be a short-term solution, so renters should try to save and build their own homes later on.

The issue is that nowadays, it's much more expensive to purchase a house. The analogy between income and the price of an average house is out of proportion. Past generations were able to build and purchase houses through work, perhaps with the help of a loan, but it was manageable for the average laborer to have his own house, provided that you worked hard for it. Now, you need to be working at a job that pays well above average to afford that.

What I find interesting is how renting sector manages to find people willing to pay that much if the minimum wage is so low?
Usually in places where minimum wage is around 1k EUR, you won't pay more than 500 for rent, so an apartment costs you half of the minimum wage (on the average). Why is it that Greece manages to sustain such imbalance? We could blame it on tourism, but then 3-4 months a year all these apartments stay unoccupied, so is renting 2/3 of the year and paying the tax for another 1/3 with no profit is better for all these people than simply renting out for long term and forgetting about the apartment for 2-3 years?

From what you wrote, you guys have a few options. One or both of you can seek a better job (tourism), or you can look for a bigger apartment that you can share with someone, preferably a pair like you. Costs of living in a bigger 2 bedroom place with 4 people would be much lower, or you can start working abroad, since even 800 is still a low wage in the EU.

Usually, it's couples that share the cost of renting and utilities or people earning an above-average wage, but in the first case, it's not ideal either. I also have a partner to split the rent with; however, with the increasing cost of living, you'll hardly be able to save, let alone invest towards a better future. Of course, people are more keen on renting their homes for a few months, which generates a greater profit than renting all year. Some go even further and rent to students or teachers that are temporarily relocated in the winter months, a combination that vastly increases their income.

[xSkylarx]

I can't really relate to this as I am not renting, but what I've noticed is that in my place, it's starting now with those homeowners converting their homes into air BNB, which is short-term rentals, which means they aim for a higher price, and the place is also good, but we still have those rental properties that can be rented for a long time, I think because we are in a 3rd world country and there is still a lot of development. I'm not sure if the government can intervene on it, but there must be regulations about those Airbnbs because local people will suffer like you or other low-income earners because it's too expensive to rent or there is no available property to rent for a long period of time.

[dothebeats]

I can't really relate to this as I am not renting, but what I've noticed is that in my place, it's starting now with those homeowners converting their homes into air BNB, which is short-term rentals, which means they aim for a higher price, and the place is also good, but we still have those rental properties that can be rented for a long time, I think because we are in a 3rd world country and there is still a lot of development. I'm not sure if the government can intervene on it, but there must be regulations about those Airbnbs because local people will suffer like you or other low-income earners because it's too expensive to rent or there is no available property to rent for a long period of time.

I doubt that the government will be able to do much regarding this matter. After all, as long as the renters or landlords/landladies are paying their taxes they have nothing to penalize them for. Sadly however it is the public, especially those with low income, are suffering because of this matter. Rents are getting more and more expensive and most of the time renewing your rent costs a lot.

[Joshapat]

I think the rental price depends on the location, if we have the patience to find a cheaper house to rent then we can easily get it, I once worked in an area where the rent for a place was very expensive, but I was looking for a small road that was not far away and could get it at a very low price cheaper maybe only about 30% of the market price.

[philipma1957]

I think the rental price depends on the location, if we have the patience to find a cheaper house to rent then we can easily get it, I once worked in an area where the rent for a place was very expensive, but I was looking for a small road that was not far away and could get it at a very low price cheaper maybe only about 30% of the market price.

yeah I live near the jersey shore in New Jersey.  My home would rent for 3000 a week if it was closer to the beach but it is 15 minutes away from the beach and rents for 3500 a month.

Location means a lot. We are 13 miles from Belmar beach and the rent is about 70% cheaper.