2. Wages are low
3. Architectural blight/reduces walk-ability
AirBnb (of whom I’ve been very critical in the past)
1. Encourages property ownership and wealth building amongst the middle class
2. Enables the middle class to extract the maximum value from their assets
3. Offers a better product at a lower price
4. Keeps profits local
Everyone assumes the hotels are complying with all local statues and are behaving in good faith just because they pay occupancy taxes and carry insurance. Bizarre.
Local city councils can and do enact laws for short term rentals and the short term rental companies have whole departments of developers who program those laws into the system. If those laws are not being followed then the justice department should do its job.
I can see harm in it. But the solution isn't enabling yet another single company to expand and capture even more of the hospitality market.
> I say with confidence that the hotel chains have negative externalities that exceed those of the various short term rental sites.
Name three.