Airbnb has become its own worst enemy - The San Francisco Examiner : The San Francisco Examiner

Airbnb has become its own worst enemy - The San Francisco Examiner : The San Francisco Examiner

Trending Articles Airbnb, the giant app-based hotel service, has disrupted housing markets and people's lives in city after city. In response, many cities are cracking down, and that's really a shame because Airbnb began as a good idea — it empowered "regular people" hosts, allowing them to earn a few extra dollars by renting out a spare room or couch to tourists. Unfortunately, Airbnb has drifted very far from its roots. Today, independent data analysis of its business practices in numerous cities has revealed that Airbnb has morphed into a giant loophole for professional real-estate operatives. Airbnb is allowing an increasing number of these professionals to evade city laws that are crucial for preserving the housing stock for local residents. Consequently, Airbnb's service is eating up affordable housing. In my research, I have found a consistent pattern. In San Francisco, various studies have found that 40 percent of revenue comes from Airbnb hosts with multiple listings.

Read full article from Airbnb has become its own worst enemy - The San Francisco Examiner : The San Francisco Examiner