{"id":169277,"date":"2021-02-03T03:03:00","date_gmt":"2021-02-03T00:03:00","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/do-airbnbs-push-up-rents-and-house-prices\/"},"modified":"2021-02-03T03:03:00","modified_gmt":"2021-02-03T00:03:00","slug":"do-airbnbs-push-up-rents-and-house-prices","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/do-airbnbs-push-up-rents-and-house-prices\/","title":{"rendered":"#: Do Airbnbs push up rents and house prices?"},"content":{"rendered":"<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_85 counter-hierarchy ez-toc-counter ez-toc-custom ez-toc-container-direction\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\n<label for=\"ez-toc-cssicon-toggle-item-6a43218c8e209\" class=\"ez-toc-cssicon-toggle-label\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #dd3333;color:#dd3333\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #dd3333;color:#dd3333\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/label><input type=\"checkbox\"  id=\"ez-toc-cssicon-toggle-item-6a43218c8e209\" checked aria-label=\"Toggle\" \/><nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/buradabiliyorum.com\/en\/do-airbnbs-push-up-rents-and-house-prices\/#%E2%80%98Countless_families_depend_on_Airbnb_to_pay_their_rent_and_stay_in_their_homes_which_has_become_even_more_important_amidst_the_current_crisis_according_to_Airbnb\" >\u2018Countless families depend on Airbnb to pay their rent and stay in their homes, which has become even more important amidst the current crisis,\u2019 according to Airbnb<\/a><ul class='ez-toc-list-level-4' ><li class='ez-toc-heading-level-4'><ul class='ez-toc-list-level-4' ><li class='ez-toc-heading-level-4'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/buradabiliyorum.com\/en\/do-airbnbs-push-up-rents-and-house-prices\/#Jacob_Passy\" >Jacob Passy<\/a><\/li><\/ul><\/li><\/ul><\/li><\/ul><\/nav><\/div>\n<p>&#8220;<strong>#: Do Airbnbs push up rents and house prices?<\/strong>&#8221;<\/p>\n<h2 class=\"article__subhead\" itemprop=\"alternativeHeadline\"><span class=\"ez-toc-section\" id=\"%E2%80%98Countless_families_depend_on_Airbnb_to_pay_their_rent_and_stay_in_their_homes_which_has_become_even_more_important_amidst_the_current_crisis_according_to_Airbnb\"><\/span>\n  \u2018Countless families depend on Airbnb to pay their rent and stay in their homes, which has become even more important amidst the current crisis,\u2019 according to Airbnb<br \/>\n<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p><\/p>\n<div class=\"column column--full article__content\">\n<div id=\"js-article__body\" class=\"article__body article-wrap at16-col16 barrons-article-wrap\" itemprop=\"articleBody\" data-sbid=\"WP-MKTW-0000151839\">\n<div class=\"barrons-article-ad-wrapper\">\n<div data-track=\"barrons-article-ad-wrap\" class=\"barrons-article-ad sticky_item\">\n<div class=\"barrons-main-article-ad-target sticky_target body_ad\" aria-hidden=\"true\"><\/div>\n<\/p><\/div>\n<\/p><\/div>\n<p>       For renters and home buyers alike, Airbnb<br \/>\n        ABNB,<br \/>\n        <bg-quote field=\"percentchange\" format=\"0,000.00%\" channel=\"\/zigman2\/quotes\/222990650\/composite\" class=\"negative\">-0.70%<\/bg-quote><br \/>\n       is contributing to the affordability crunch seen in many housing markets across the country.<\/p>\n<p> Short-term rentals via <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/download-scripts-themes-apps\/\" data-internallinksmanager029f6b8e52c=\"9\" title=\"Download Scripts &amp; Themes &amp; Apps\" target=\"_blank\" rel=\"noopener\">app<\/a>s such as Airbnb contribute to housing shortages and rent increases, according to research published last week by Felix Mindl and Dr. Oliver Arentz, researchers at University of Cologne in Germany. They attributed 14.2% of overall rent increases to short-term rentals or 320 euros ($385) per year for new tenants.<\/p>\n<div class=\"paywall\">\n       \u201cWhile a large proportion of hosts can be considered home sharers, we find an increasing proportion of providers who have developed a professional business model from short-term rentals,\u201d Mindl said in a statement. \u201cProfessional short-term rentals are available to tourists throughout the year, and thus compete directly with long-term tenants, for whom the rooms are then no longer available.\u201d<\/p>\n<p>The Economic Policy Institute, a progressive think tank, <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.epi.org\/publication\/the-economic-costs-and-benefits-of-airbnb-no-reason-for-local-policymakers-to-let-airbnb-bypass-tax-or-regulatory-obligations\/\" class=\"icon none\">said last year<\/a><strong>, <\/strong>\u201cEvidence suggests that the presence of Airbnb raises local housing costs.\u00a0The largest and best-documented potential cost of Airbnb expansion is the reduced supply of housing as properties shift from serving local residents to serving Airbnb <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/trip-and-travel\/\" data-internallinksmanager029f6b8e52c=\"10\" title=\"Trip &amp; Travel\" target=\"_blank\" rel=\"noopener\">travel<\/a>ers, which hurts local residents by raising housing costs.\u201d<\/p>\n<p>Indeed, a 2017 study that was published in the latest edition of the\u00a0journal Marketing <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/sciencee\/\" data-internallinksmanager029f6b8e52c=\"5\" title=\"Science\" target=\"_blank\" rel=\"noopener\">Science<\/a> found that the number of Airbnb listings in a zip code was associated with increases in property prices and rental rates. \u201cThe increased ability to home-share has led to increases in both rental rates and house prices,\u201d the researchers wrote in the study.<\/p>\n<p>Researchers used<br \/>\ndata on all U.S. properties listed on Airbnb between 2012 and 2016, and<br \/>\nanalyzed the effects of these listings using data on rents and home values from<br \/>\nZillow. Based on the <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/social-mediaa\/\" data-internallinksmanager029f6b8e52c=\"1\" title=\"Social Media\" target=\"_blank\" rel=\"noopener\">media<\/a>n growth in Airbnb listings nationally, the<br \/>\nshort-term rentals contributed to an annual increase of $9 in monthly rent and<br \/>\n$1,800 in home prices for median zip code, the study\u2019s authors found.<\/p>\n<p>All told, Airbnb accounted for one-fifth of the actual rent growth and one-seventh of the actual home-price appreciated experienced nationwide. But the effects of Airbnb were more pronounced in some parts of the country than others. In particular, housing markets with fewer renters and more homeowners saw a smaller Airbnb-related effect. The popularity of a destination was from a tourist\u2019s perspective also appears to have played a role.<\/p>\n<p>However, a spokesman for Airbnb took issue with those findings, and said the COVID-19 pandemic has created an untenable position for many households struggling to make ends meet. <\/p>\n<p>\u201cCountless families depend on Airbnb to pay their rent and stay in their homes, which has become even more important amidst the current crisis,\u201d he said. \u201cThe authors of this study, which is now outdated, agree that home sharing can provide important economic benefits for families and support smart rules that allow home sharing to continue,\u201d he said.<\/p>\n<p>Sophie Calder-Wang, assistant professor of the real-estate department at The\u00a0Wharton\u00a0School in the\u00a0University of Pennsylvania, <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/scholar.harvard.edu\/files\/sophie-qingzhen-wang\/files\/calder-wang_sophie_harvard_airbnb_housing.pdf\" class=\"icon none\">conducted a study <\/a>last year that found the \u201cincreased rent burden falls most heavily<br \/> on high-income, educated, and white renters because they prefer housing and location amenities that are most desirable to tourists.\u201d<\/p>\n<div id=\"cx-membership-tile\"><\/div>\n<p>In the 2017 study published in the latest edition of the Journal of Marketing, the authors said that more research is needed, \u201cto achieve a complete welfare analysis of home-sharing. For example, home-sharing may have positive spillover effects on local businesses if it drives a net increase in tourism demand.\u201d<\/p>\n<p>Still, the growing popularity of short-term rentals through platforms like Airbnb does show that the higher rates landlords can fetch on the vacation rental market has led some to convert their properties from long-term to short-term rentals, they added. That has shrunk the rental market, pushing prices higher.<\/p>\n<p>To the extent that homeowners could convert extra, unused<br \/>\nspace in their homes into listings on Airbnb, that has driven the prices of<br \/>\nhomes higher, the researchers found. <\/p>\n<p>Along these lines, the researchers said that local lawmakers<br \/>\nmight be able to counteract the effects of Airbnb through targeted regulations.\n<\/p>\n<p>\u201cRegulations on home-sharing should (at most) seek to limit the reallocation of housing stock from long-term rentals to short-term rentals without discouraging the use of home-sharing by owner-occupiers,\u201d the researchers wrote. <\/p>\n<p>One regulatory approach they suggested: Levy an occupancy tax solely on property owners who rent out an entire property for an extended period of time and requiring proof that property owners live in the homes they own to avoid the tax.<\/p><\/div>\n<\/div><\/div>\n<p><\/p>\n<div class=\"byline article__byline\">\n<p>      <span>By<\/span><\/p>\n<div class=\"author  hasMenu\" data-scrim='{\"type\":\"author\",\"header\":\"Jacob Passy\",\"subhead\":\"The Wall Street Journal\",\"list\":[]}' itemscope itemprop=\"author\" itemtype=\"http:\/\/schema.org\/Person\">\n<h4 itemprop=\"name\"><span class=\"ez-toc-section\" id=\"Jacob_Passy\"><\/span>Jacob Passy<span class=\"ez-toc-section-end\"><\/span><\/h4>\n<\/p><\/div>\n<\/div>\n<blockquote><p><strong><span style=\"color: #ff6600;\">If you liked the article, do not forget to share it with your friends. Follow us on\u00a0<span style=\"color: #ff0000;\"><a style=\"color: #ff0000;\" href=\"https:\/\/news.google.com\/publications\/CAAqBwgKMLG0nwswvr63Aw\" target=\"_blank\" rel=\"nofollow noopener noreferrer\">Google News<\/a><\/span>\u00a0too, click on the star and choose us from your favorites.<\/span><\/strong><\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\">For forums sites go to <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/forum.buradabiliyorum.com\/\" target=\"_blank\" rel=\"noopener\">Forum.BuradaBiliyorum.Com<\/a><\/span><\/strong><\/p>\n<\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\"><strong>If you want to read more <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/news\/\" data-internallinksmanager029f6b8e52c=\"2\" title=\"News\" target=\"_blank\" rel=\"noopener\">News<\/a> articles, you can visit our <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/en.buradabiliyorum.com\/news\/\" target=\"_blank\" rel=\"noopener\">News category.<\/a><\/span><\/strong><\/p>\n<\/blockquote>\n<p><span style=\"color: black;\"><a style=\"color: #ff9900;\" href=\"http:\/\/www.marketwatch.com\/news\/story.asp?guid=%7B21005575-02D4-D4B5-4572-D2511F3B790B%7D&#038;siteid=rss&#038;rss=1\" target=\"_blank\" rel=\"noopener\">Source<\/a><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>&#8220;#: Do Airbnbs push up rents and house prices?&#8221; \u2018Countless families depend on Airbnb to pay their rent and stay in their homes, which has become even more important amidst the current crisis,\u2019 according to Airbnb For renters and home buyers alike, Airbnb ABNB, -0.70% is contributing to the affordability crunch seen in many housing&#8230;<\/p>\n","protected":false},"author":1,"featured_media":169278,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"","fifu_image_alt":"","footnotes":""},"categories":[70897],"tags":[],"class_list":["post-169277","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news"],"_links":{"self":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/169277","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/comments?post=169277"}],"version-history":[{"count":0,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/169277\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media\/169278"}],"wp:attachment":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media?parent=169277"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/categories?post=169277"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/tags?post=169277"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}