What began as a genius idea has turned into a real estate nightmare. The concept of shortterm rentals was a simple one. Turn your home into a moneymaking machine by providing people with an alternative to traditional hotels. Started by a group of young entrepreneurs in 2007, AirBnB was essentially the birth of this concept. It was simple. List your room, apartment, or house on a website and let strangers book it as if it were a hotel. Originally met with skepticism, the idea took off, and now dozens of companies compete in a 100 billion industry commonly named as the STR industry or Short Term Rental. I'm sure most of you watching this video right now have once upon a time either booked an STR or stayed at one with friends. And while the popularity of the industry has exploded, in recent years many are changing their opinions. The truth behind AirBnB, Vrbo, and all the other STR companies is starting to come out, and now people and municipalities are rebelling.

Philadelphia study:
https://www.philadelphiafed.org/consu...