News: The Airbnb Crash Is A Bigger Problem Than You Think (Here's Why)
Rebel Capitalist News
George Gammon
4.7 • 1.1K Ratings
🗓️ 14 September 2023
⏱️ 12 minutes
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Transcript
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| 0:00.0 | Hello, fellow Rebel capitalists hope you're well. |
| 0:02.6 | So we have been talking a lot about the Air B&B bubble crashing, popping on this channel. |
| 0:09.6 | And we've talked about it in terms of the real estate market, but I think there's a lot more to it than just real estate. |
| 0:18.0 | Let's get right over to this article and you'll see what I'm referring to. |
| 0:22.0 | This is from Curbed, I guess this is maybe a part of the New York magazine or something like that. |
| 0:28.8 | But if you didn't watch my video last week, we talked about how there were these new regulations in New York and popping up all over the United States, which effectively ban Airbnb. |
| 0:41.0 | It makes it so hard for people to utilize the service and do short-term |
| 0:47.0 | rentals that people are like that this you might as just ban it completely. |
| 0:51.0 | So last week in this video that we discussed with Airbnb specifically, we talked about |
| 0:56.0 | how this is happening not just in these blue states, also in Texas. |
| 1:00.5 | They're doing the exact same thing in Dallas. I heard they're doing something similar in Austin as an example |
| 1:06.7 | which makes Airbnb just it's a non-starter like you just can't do it. |
| 1:13.3 | So we looked at that in terms of how this impacts real estate, |
| 1:16.6 | where if you have all these people that are now forced to sell |
| 1:20.8 | because they can no longer for their mortgage payment because the only way that they could is with a short-term rental. |
| 1:25.0 | If they rented it out long term, then that rent would not cover their mortgage or they'd at |
| 1:29.6 | least have negative cash flow. And how that would impact maybe the small float of houses that |
| 1:35.2 | are actually for sale and if there's pricing pressure there then that because |
| 1:39.4 | it comps and because the prices are set at the margin for the entire home stock in the United States, |
| 1:44.6 | how that could put downward pressure on prices. |
| 1:46.7 | And again, not saying that this nominal prices are going to crash with real estate. |
| 1:50.7 | And if you guys follow a lot of my videos, you'll know that I always say the real estate and if you guys follow a lot of my videos you'll know that I always say the real estate market |
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