Short term rentals being more profitable than actual homes for people, this means that (i) rents, already a grueling expense for many people, are pushed up, the consequences being (ii) people either cough up and become even poorer, or more likely move away from the city centres and spend time and money commuting, meaning (iii) popular destinations become hollow theme parks for tourists, while actual residents are shafted in every possible way.
In short, in a city like Lisbon, good luck being a student for example. Pay upwards of 500$/mo (or for perspective, 75% monthly minimum wage) for a room in a shared house, or live a 1h30 commute away from campus.
In short, in a city like Lisbon, good luck being a student for example. Pay upwards of 500$/mo (or for perspective, 75% monthly minimum wage) for a room in a shared house, or live a 1h30 commute away from campus.