📉 Airbnb Revenues Plunge And Crashing House Prices
Discover the opportunities in this turbulent real estate market.
It's not spring fever, but the housing market is certainly feeling the heat!
In a series of economic twists and turns, Airbnb rental revenues are plummeting across cities at a staggering rate, leading some to predict a surge in home sales.
Meanwhile, the spring housing market isn't as vibrant as anticipated, with real estate prices crashing at 2012 speeds.
Adding fuel to the fire, house hunting is predicted to become more challenging due to a 29% decline in listings and mortgage rates crossing the 7% threshold.
A stagflation atmosphere is looming in the housing market, presenting daunting challenges for potential buyers.
Lastly, San Francisco's hotel industry is grappling with revenue declines and looming foreclosures.
In this edition of the AltReports:
📉 Airbnb Revenue Plunge
🐌 Sluggish Spring Season
🕵️ House Hunting
💥 CRE Credit Crisis
🌉 Frisco Fiasco
Video of the Week: Airbnb Crash Coming
Chart of the Week: National Cost of Owning vs Renting
Podcast of the Week: The Next “Wave” of Foreclosures
Airbnb Rental Revenues Plummet, Listings Outpace Homes for Sale
Airbnb rental revenues are heading south faster than geese in winter, with some cities showing drops as dramatic as 50%!
This might force hosts to sell their homes, adding some much-needed options to the housing market.
To make things spicier, more cities are clamping down on short-term rentals, which doesn't help Airbnb's case.
Despite the drama, folks are still splurging on vacations. But investors? They're less convinced, as Airbnb's stock took a hit.
Spring selling season's in full swing, baby! But it's less "full bloom" and more "wilting daisy."
Sure, prices rose a bit, but we're still down 1.7% compared to last year, the biggest plunge since 2012. The 20-City-Index is down 3.5% from last June's peak - oof.
And the party's over for half of those cities, with prices going downhill. Seattle leads the "downhill skiing" at -12.4%.
House Hunting is About to Get Harder
So you thought finding a dream pad was tough? Buckle up, it's about to get wilder.
Listings have taken a nosedive, dropping 29% from last year, while mortgage rates are strutting over the 7% line.
Builders are cashing in, but they've been slacking off since the recession, so don't count on them. Bottom line: it's a stagflation party, and you're invited.