I understand the economic incentives in place, but as someone stuck on the rental train right now, it's so infuriating to hear these stories. All I want is to buy a house someplace I actually want to live and start building equity instead of burning money on rent. And this class of investors is ruining housing prices with insane price competition based on insane AirBnB revenue.
I can only hope that multiple home ownership and AirBnB's externalized costs get regulated and taxed out of existence. There are a lot of young people with much less money than us tech workers who are barely scraping by and will never be able to own their own home or even afford starting a family if these trends continue.
When there are millions of Americans who literally can't afford rent living on the street or in their cars, owning even a single "investment property" or vacation home or AirBnB is repugnant.
I can only hope that multiple home ownership and AirBnB's externalized costs get regulated and taxed out of existence. There are a lot of young people with much less money than us tech workers who are barely scraping by and will never be able to own their own home or even afford starting a family if these trends continue.
When there are millions of Americans who literally can't afford rent living on the street or in their cars, owning even a single "investment property" or vacation home or AirBnB is repugnant.