If There's Not Enough Homes, There's Not Enough Homes
Submitted by: lalapancakes⚫ 1 year ago in
This is an old story being revisited about the failure of San Francisco’s Prop F measure in 2015 to require home sharing companies to adhere to some restrictions and pay taxes. I am fully aware of what side the publication ’48 Hills’ is on in the war of modern gentrification so I do recommend their posts with a grain of salt. I do find “The Truth Behind AirBnB Lies” to be too wordy and filled with a lot of bias but there are also fair points made. Points like corporations should not be able to spend whatever they want to squash public opinion. AirBnB spent $8 million to see Prop F’s failure through. I would’ve much more preferred to see the proponents and opponents debate it out in public with no financial advantage.
I also agree with the premise of San Francisco’s tenants rights activist concerns who believe short term property rental market is bad news for cities with negative housing stock. The profiteers definitely beg to differ but their counter argument amounts to conspiracy theory rhetoric, generally saying hotels are meeting behind closed doors to fight the "new business model." 48 Hills points out the anti-AirBnB housing share laws aren’t cooked up in some dark hotel meet up of angst because the very writers of 48 Hills are in those meetings to witness everyday people, your average rent payers on the front lines of the housing crisis.
In short - even though the proposal to encourage property regulations on the short term rental market failed, the reason these properties are an issue still stands…
“ Airbnb and VRBO alone account for roughly 4,500 entire homes and apartments removed from the San Francisco rental market. They’ve taken away 1,000 units more than the 3,500 new units San Francisco built in all of 2014.
In addition to Airbnb and VRBO, over 60 other companies offer short-term rentals to tourists, meaning SF may have lost up to 10,000 units to full-time tourist accommodation. That drives up rents. And it incentivizes evictions.”