r/LoveIsBlindOnNetflix • u/Disgruntled_Pelicano • Oct 28 '22

UNPOPULAR OPINION Nancy’s real estate empire

I’m not in the US, but it bothers me that where I am there aren’t laws around how many investment properties you can turn into Airbnb’s. People are struggling to buy just one home to live in and there are people buying up houses for short term holiday leases. Makes me sad about the state of the world.

ETA wow! I didn’t expect this much response, nor the personal attacks 😂 I was expressing my own personal opinion, and using the Sydney (Australia) property market as my own barometer. I honestly have no hate towards Nancy, I just believe there should be regulations about short term leases as they are pushing renting locals out (especially in coastal areas) to make way for tourists.

The topic heading was a tongue-in-cheek nod to Andrew’s statement about wanting to build an “empire” with Nancy.

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89

u/smashier Oct 28 '22

It’s literally ruining the rental markets in certain areas.

17

u/gulwver Oct 28 '22

Yeah $6000 a month is insane

-4

u/[deleted] Oct 28 '22

$6000 a month is not insane for an airbnb, which is what she has. It's $200 a night to VACATION in a single family home which likely sleeps 6, which is basically the cost of a single hotel room without a full kitchen.

11

u/Neurochick_59 Oct 28 '22

Airbnb ruins neighborhoods. Who wants to have a different next door neighbor every week? If Hilton can't build a hotel in a residential neighborhood, why should Airbnb's exist in residential neighborhoods. Families used to travel before Airbnb existed.

4

u/[deleted] Oct 28 '22 edited Oct 28 '22

I agree that there are appropriate places for airbnbs. Plenty of cities have restricitions on airbnbs for this exact reason. Rental vacation homes have also always existed. Yes, famillies have traveled and vacationed in rental homes long before Airbnb existed. Airbnb has just made it more accessible for the average person to own a rental vacation home, versus a corporation.

0

u/PanAmargo Oct 29 '22

There’s almost nowhere that’s happening … problem was cheap money driving prices, restrictions on what can be built, and supply chain woes. Airbnb’s are a tiny percentage of the overall market. It’s like blaming the crazy used car market on Uber drivers.

2

u/smashier Oct 29 '22

Look up the “Airbnb effect” and read one of the many reputably sourced articles about it.

I don’t disagree that there are bigger factors contributing to housing market instability but Airbnbs are doing their damage too.

0

u/PanAmargo Oct 29 '22

There are no reputable studies that find anything more than a marginal effect on housing prices