return2ozma@lemmy.world to News@lemmy.world · 8 months agoRenters need to make roughly $20,000 more a year to afford the typical rent than they did 5 years agofortune.comexternal-linkmessage-square145fedilinkarrow-up1670arrow-down110
arrow-up1660arrow-down1external-linkRenters need to make roughly $20,000 more a year to afford the typical rent than they did 5 years agofortune.comreturn2ozma@lemmy.world to News@lemmy.world · 8 months agomessage-square145fedilink
minus-squareNaboo_calls_for_aid@sopuli.xyzlinkfedilinkarrow-up1·8 months agoWithout the supply of homes going into shortterm rentals like VRBO it would increase supply for people who actually live in that city, travelers can use hotels. Not a full stop fix, but it would increase supply/lower rent.
minus-squareiopq@lemmy.worldlinkfedilinkarrow-up1·7 months agoThat would increase hotel prices, making hotel owners purchase more land and build hotels until the equilibrium price is reached It’s a short term fix that eventually loses to market forces
Without the supply of homes going into shortterm rentals like VRBO it would increase supply for people who actually live in that city, travelers can use hotels. Not a full stop fix, but it would increase supply/lower rent.
That would increase hotel prices, making hotel owners purchase more land and build hotels until the equilibrium price is reached
It’s a short term fix that eventually loses to market forces