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Airbnb bubble bursts - properties to rent for everyone

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    #62
    Yurt2
    Registered Users Posts: 9,381 ✭✭✭Yurt2


    Deleted User wrote: »
    Tourism generates in the region of €7 billion for the Irish economy every year, so isn’t to be ignored.


    We had tourism before Airbnb, there will be tourism after it. Dublin isn't a playpen for Ryanair and Airbnb tourists, it's a living breathing city that needs to prioritize its residents over low-quality tourism that undermines the quality of life of the people who keep it running.


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    #63
    mariaalice
    Registered Users Posts: 12,504 ✭✭✭✭mariaalice


    Yurt! wrote: »
    We had tourism before Airbnb, there will be tourism after it. Dublin isn't a playpen for Ryanair and Airbnb tourists, it's a living breathing city that needs to prioritize its residents over low-quality tourism that undermines the quality of life of the people who keep it running.

    It's not as simple ast that though, those 'low quality' tourists support a lot of job and not just low paid jobs.

    I agree with restrictions on Air BnB in Dublin but not in the rest of Ireland.


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    #64
    whisky_galore
    Registered Users Posts: 16,351 ✭✭✭✭whisky_galore


    Bambi wrote: »
    It's not a golden goose for country, the negatives have been huge.

    You want to offer an alternative to hotels open an actual B&B

    Many people just want a room, with minimal interaction, not an Irish mammy wanting to know when they will be home and shoving a full Irish in their face in the morning.


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    #65
    beauf
    Closed Accounts Posts: 22,648 ✭✭✭✭beauf


    Baby being thrown out with the bathwater. It's been steamrollered by click bait media. People are lapping it up. Govt happy once people are deflected from blaming the govt for the housing crisis.


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    #66
    [Deleted User]
    Posts: 0 ✭ [Deleted User]


    beauf wrote: »
    Baby being thrown out with the bathwater. It's been steamrollered by click bait media. People are lapping it up. Govt happy once people are deflected from blaming the govt for the housing crisis.

    Not many people blame the government for their situations. Most take responsibility for themselves and their families. Only a small minority expect da gubberment to see to their every need from cradle to grave.


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    #67
    beauf
    Closed Accounts Posts: 22,648 ✭✭✭✭beauf


    Well I need a NCT. Are you suggesting I cut through the ineptitude, and just do my own? :)


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    #68
    micosoft
    Registered Users Posts: 2,364 ✭✭✭micosoft


    reg114 wrote: »
    Yes it is very early days but landlords will really start to feel the pinch in the coming weeks if there is no rent coming in. Im predicting a collapse in the price of rental property in this country similar to the 30% plus drops we saw in 2008, the difference this time is the drops will come a whole lot quicker. You are going to see the economy contract massively, huge layoffs, with any building plans grinding to a halt. The upside will be the exodus of foreign workers which will free up alot of rental accommodation in the cities and again in the cities which will force rental prices down.

    Remember tourism from abroad will be decimated at least for the rest of 2020 if not longer. We rely on huge numbers of tourist from the UK and north america every year so the air bnb landlords wont see a recovery any time soon. Once they float their assets onto the rental market they will most likely seek to tie them up for at least a calendar year. This is all excellent news for renters, providing of course these renters still have a job to enable them to avail of the reduced rent.

    I don't disagree that it's likely with a recession that rentals will go down significantly (mortgages being more static). We may see a lot of recent immigrants go home as well. But housing is still a relatively fixed resource. And I'm not convinced that AirBnB holders will transition to rentals.

    If average rent is €2k and income is €5k then housing is expensive but manageable.
    If average rent is €1k and income is €2k then housing is extortionate.

    It's always better to have expensive housing but a high performing economy than cheap housing but an economy in the toilet.

    I guess my fundamental point is those laughing that AirBnB are shutting down don't get the point that the economy will tank too. Affordability becomes an even bigger problem when both you and the govt is bust.


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    #69
    Edgware
    Registered Users Posts: 5,874 ✭✭✭Edgware


    Yurt! wrote: »
    We had tourism before Airbnb, there will be tourism after it. Dublin isn't a playpen for Ryanair and Airbnb tourists, it's a living breathing city that needs to prioritize its residents over low-quality tourism that undermines the quality of life of the people who keep it running.
    "Low quality tourism"
    The money of the low quality tourist keeps a lot of jobs going. The big coach tours are fine for the 4 star hotels in Dublin, Galway, Killarney etc. The tourist who stays in the Airbnb spends in takeaways, bars, cafes, buys concert tickets, petrol etc. Not all are Ryanair stag parties ( who also spend plenty)


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    #70
    beauf
    Closed Accounts Posts: 22,648 ✭✭✭✭beauf


    micosoft wrote: »
    ...
    I guess my fundamental point is those laughing that AirBnB are shutting down don't get the point that the economy will tank too. Affordability becomes an even bigger problem when both you and the govt is bust.

    Some people are not that aware of previous crashes and recessions, they weren't around, or perhaps simply were isolated from it at the time. So they have no awareness of the bigger picture.

    Seems to me the AirBnb are scrambling trying to undercut existing long term rentals. They may not have realized that you can't undercut a rent of zero.


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