Re:Detroit has outlawed Airbnb for R1 and R2 zoning
by beal on Thursday February 08, 2018 @02:34PM
(#16334885)
I think AirBnB would be a force to help people keep their housing, driving rents up but allowing people flexibility to generate more income if they are falling back. I'm interested to see how the company responds.
[ Parent
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Re:Detroit has outlawed Airbnb for R1 and R2 zoning
by bobthepanda on Thursday February 08, 2018 @02:48PM
(#16335018)
Or it could fuel housing bubbles to new heights. The fact that there are now housing lenders who use projected AirBNB revenues in determining creditworthiness is worrying.
Re:Detroit has outlawed Airbnb for R1 and R2 zoning
by beal on Thursday February 08, 2018 @04:10PM
(#16335622)
If the property is more valuable there is no bubble. I do agree some lenders might get this wrong, but an overall increase is pretty reasonable I think.
Re:Detroit has outlawed Airbnb for R1 and R2 zoning
by bobthepanda on Friday February 09, 2018 @02:46PM
(#16343271)
Counting it as just straight up income is not correct, though, given that AirBNB is essentially the hospitality business, which is highly cyclical. The first thing people cut back on is traveling, and hotels are not afraid to race to the bottom to fill rooms.
Re:Detroit has outlawed Airbnb for R1 and R2 zoning
by dsacco on Thursday February 08, 2018 @03:37PM
(#16335374)
> The fact that there are now housing lenders who use projected AirBNB revenues in determining creditworthiness is worrying.
Do you have a source for this?
Re:Detroit has outlawed Airbnb for R1 and R2 zoning
by bobthepanda on Thursday February 08, 2018 @03:58PM
(#16335550)
A startup doing this: https://www.nytimes.com/2017/09/18/your-money/mortgages/loft...
And now apparently Fannie Mae is moving into this space: https://www.wsj.com/articles/gig-economy-grows-up-as-lenders...
Re:Detroit has outlawed Airbnb for R1 and R2 zoning
by xapata on Thursday February 08, 2018 @04:46PM
(#16335865)
Politicians generally appreciate housing price increases. Homeowners are a key voting demographic.
Re:Detroit has outlawed Airbnb for R1 and R2 zoning
by vkou on Thursday February 08, 2018 @02:41PM
(#16334944)
> I think AirBnB would be a force to help people keep their housing, driving rents up but allowing people flexibility to generate more income if they are falling back.
Until it becomes the new normal, and market rents will factor that in. Then, people who, for whatever reason, cannot rent half their apartment out on AirBnB will just be priced out.