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June 28, 2023 | Leaping Short-Term Rental Supply
Danielle Park
Portfolio Manager and President of Venable Park Investment Counsel (www.venablepark.com) Ms Park is a financial analyst, attorney, finance author and regular guest on North American media. She is also the author of the best-selling myth-busting book "Juggling Dynamite: An insider's wisdom on money management, markets and wealth that lasts," and a popular daily financial blog: www.jugglingdynamite.com
A survey from rental site Vacasa showed that 90% of summer travelers this year changed their plans for travel to be more budget-friendly, including choosing driving over flying or choosing a cheaper day to travel.
At the same time, active US short-term rental listings reached 1.4 million in April 2023, an 18% jump compared to the same time last year, according to AirDNA. See, It’s a cruel, unpredictable summer for Airbnb and Vrbo hosts — but it also might be the new normal.
Housing analyst Nick Gerli examines the underlying data in this clip.
Airbnb owners are about to cause a massive housing crash in certain cities across America in 2023 and 2024. The central issue that will cause this Housing Crash is Airbnb Bust, the new trend where revenues for Airbnb owners have plummeted by as much as 50% in areas like Phoenix, Austin, and Tennessee.
Plummeting Airbnb revenues is a big problem because lots of investors bought up Airbnbs over the last several years and heavily increased the supply. There are now roughly 1 million Airbnbs / VRBO rental in America compared to only 570k homes for sale. Here is a direct video link.
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Danielle Park June 28th, 2023
Posted In: Juggling Dynamite
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