Guess I'm always the exception. I am moving, and don't have a BIG home.
I'm sure it was mentioned somewhere else, but it is a good observation. All of those things contribute to my view that we don't have a housing problem. If we look at dwellings and households, they aren't that far out of alignment. But when people own multiple houses (6months in X location and 6 months in Y) or ABNB steps into the picture, it causes a lot of problems.
The median price of a home in the US currently as of 2024 is $417,000, and the average median income to buy on these houses is $110,000 yearly income. This is up from a $76,000 required income in 2020. Please explain how we don't have a housing problem? As a 22 year old and a member of Gen Z, the future prospects of buying a house are very dim. Many people will never be able to afford houses.
Prices are not the same as inventory. I will agree we have an affordability problem. But that is partially because median incomes haven't kept the pace with what they previously did in the 60's-80's, and we built larger and larger homes. We need more multifamily units (rentals and condos) but Boomers, as the article says, don't want to move. At its core, it's a demographic problem combined with some structural problems in the tax code.
I don't think people owning 7 AirBnB properties is good for the country as a whole.
Idk how it doesn’t happen government wants their cut of anything that isn’t drug money. Then they still want their cut
Maybe I am in the minority but I own zero rental properties and comments like this drive me nuts. Is it really bad or is it just jealousy? If they can make money doing it good for them and keep the government’s grubby greedy hands out of it.
Why? Curious not sarcasm.
I dont disagree. It tends to be a very localized problem - im sure miles city could use a few airbnbs and im also sure that bozeman housing prices/availability have been made dramatically worse by it.
My comment was towards a post stating they would support “taxing short term rentals into oblivion”. I understand 1031 exchange. I understand how some of these folks build wealth and I fail to see the problem. Court d Alene is nice and it’s no surprise it’s in high demand. A good friend of mine wants to move there and can’t afford to. Yet he is not pointing his fingers at other people who have worked, saved, leveraged, risked, invested and utilized smart tax advantaged strategies as the problem in his situation. I’m not the victim of wealthy people. Life isn’t fair and I have made choices and it’s not the governments job to intervene so I can have what I want when I want it. I am just a guy trying to provide for a family on a single income but the belief we should tax people who get in the way of what I want seems pretty selfish. People lack grit and they just want the government to step in rather than pulling up their boot straps and getting to work.
