—-this is a subscription site. If you search “airbnb bust Washington post” you should be able to see the entire article 1time
Most articles about Airbnb are sensationalism and click bait.
This one is thought provoking & reinforces somethings we already know
Screenshots of the article
Thanks Annet - this was an interesting read. Our area has seen an increase in hosts in the past few years but we also have seen many fall off in the past year. The net increase isn’t very high but in the 6 years I’ve been hosting it has gone from 48 listings to over 300. Most are entire unit rentals,
I imagine you subscribe to WaPo. Most articles you can now “gift” to another person or post on a site like this. Saves you having to copy it all. Look at the end of articles and you will see the gift option. Think you’re allowed 10 gifts per month.
In my general area, the number of STRs have exploded. In my small condo development the number has more than tripled.
When I talk to new hosts we discuss always having a plan B like flip to long term rentals for a period of time. We also talk about reasons for owning. While yes we all want to maximize income but what is the bottom line reason? Personal vacation? Pure investment? Blend?
How long can you survive without rentals?
How to compete with people who purchased when prices were lower.
These conversations are not always easy. One host & I went separate ways when I mentioned his rental was perfect for snowbird or LTR during the off season or if STR competition made his peak season slow. He paid top dollar for a golf condo so not oceanfront thus not highest demand. He started raging this was an investment & he would do only STR for his price, no less & knew he would be busy & this conversation has not what he needed…ummm ok…
STRs are still exploding where I am. At the same time, I see open calendars that were once 75% (give or take) filled. I don’t know how much more my market can take. STR buyers are paying double the price for property over pre-Covid times.
I was in banking years back, in problem loan work out, and I saw many owners under water on mortgages with no source of cash flow to make the payments.
I look forward to reading the article when I get home.
@zillow op. Good info thank you. Unfortunately I do not subscribe so only get the one free read
If I had a dollar for every article about the demise of Airbnb…
If hosts aren’t going to be booked enough to stay in business, they won’t. Maybe instead of giving big host recruitment bonuses and making it easier to be a host they should cut fees or start that super guest (frequent flier) program they’ve talked about for years.
Thanks for sharing. I caught this article earlier, & took away some valuable info. It was no surprise to read that many areas are over saturated, as mine is. And I’m in a very rural area in western Colorado, with basically no tourist draw from November to April🤷♀️ Last week I counted at least 40 new listings within a 30 mile radius. That’s in a county of just over 31,600. I’m anxious to see how many still have their shingles out next summer…
As an aside, I know you follow some other host sites/ pages. Did you happen to catch any intel on Mr. Cheskey having a listing in SF? (“Beyond the Airbed” was the title I saw in a pic), but I didn’t click….
Supposedly Chesky’s rental is a room in his home. I’m shocked no one is talking about it or posting a link to it. Personally I think no one believes it so it’s a non -item. I’d like to see it if it exists
So would I. Bet it’s BS- why would he rent out a private room in his home, he’s a billionnaire.
Nah - media fluffing, how was Mr Chesky as a host? Was if sparkling clean!
The bust will be for hosts as they create more and more hosts. Some of these newbies will drop out when they see the work involved, but meanwhile they get visibility and dilute our rentals.
No reviews or availability!