Quote:
Originally Posted by westopher
But if they do end up selling it, that's still more supply. More supply means cheaper homes (that still cost more than ever due to the interest rates) which means more places to live which also takes people out of the rental pool which in theory makes it cheaper. It should work, but Vancouver real estate continues to defy math so I don't fuckin know lol.
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As evofire said though, these Airbnb homes aren’t homes people have been sitting on the sidelines waiting for.
I get the theory that more supply equals lower prices, but on the flip side I think if there’s enough money going around that people can buy these properties just for more speculation, it’s only gonna hurt your middle class person that wanted a holiday, it’s not gonna do anything for the person with a $1000 a month rent budget.
No one wants to stay in an Airbnb that rents for $1000 a month in Vancouver because it’s probably a dump, and no one paying $1000 a month in rent can even come close to affording to buy that $1000 a month place lol