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Dichotopotamus t1_iyxildq wrote

Reply to comment by Icy-Performance-3739 in Airbnb likely to lose more than 10K listings in NYC under tight new rules by NecessaryMistake9754

That's not it at all. Competition e.g. hotels and taxis have not disappeared at all. For Airbnb its ludicrously expensive now because property owners need more money post pandemic after shutdowns crushed their income.

For Uber it's simply convenience in metro areas that don't have great public options.

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san_serifs t1_iyy1yls wrote

The interest rates on those investor mortgages are probably ratcheting up and those ridiculous cleaning fees are what is covering that.

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Round-Good-8204 t1_iyzhzto wrote

Exactly. Unfortunately, nobody cared about locking in a fixed rate at like 4% because "it could go back down, you don't know".

I don't even own a house or car or any loans in my name, and I still feel like I'm catching the back end of the fallout because now everything I need is more expensive. Even local bodegas are charging more for stuff because they need the money to cover their ridiculous mortgages.

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san_serifs t1_iyzyokd wrote

Bodega prices mostly increased because wholesale prices increased. There could be other factors for some stores, but that is the main one.

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Dichotopotamus t1_iz114va wrote

LOL why so many negative comments? It's literally basic economics. Skyrocketing inflation, lockdowns stopping Airbnb hosts revenue. Remember most of them are independent owners, not hotel chains who have the scale to manage that downturn. So Airbnb hosts have to recoup by charging crazy rates or they're going to get foreclosed. I suspect many comments here are economic illiterates or deniers. We know the type.

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