The guy in my Never Underestimate An Oct Man Loves Soccer Shirt midsized city has 95 Airbnb listings. NINETY-FIVE. All individual condos. There are corporations buying up houses, people buying semi-pairs, and short-term renting the second half. Then buying townhomes and renting out each bedroom to travelers- all against zoning. The city gives 0 shits. Property taxes on unoccupied homes, restrictions on foreign investments, restrictions on investment funds buying single-family residences, higher taxes on rental income, higher taxes on multiple residences. BOOM, housing bubble de-fucked. Web scraping can be a powerful thing.
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Both houses on either side of my Never Underestimate An Oct Man Loves Soccer Shirt parents had new people moving in. Within the week the sign popped up in their front yard and both are renters. You have huge hedge fund-type entities with billions looking to make an investment. And instead of doing something like building a factory they just buy up real estate and essentially squat on it and charge people to live there. It’s bad now for Millennials. There won’t even be a real estate market by the time Gen Z gets to be my age. Even kids who are born into one-kid households don’t necessarily get a house at the end. Lots of boomers whose retirement plan is basically their house.
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