STRs are not doing well in Phoenix - people got greedy..

[Bruce Woodruff]

I am in a FB group about AZ STRs, and the talk all week has been "the Superbowl, the biggest Golf tournament, and Spring Training are all coming to Phoenix this week, why isn't my STR (that I just started) not booked?"

Then they show their listing and they want $2000 - $3000 or more a night or something ridiculous. I think half of all STRs are vacant when they could all be booked if people had been reasonable with their rates....but many of these people thought they could just move out for a week or two, list their house, and rake in the big bucks. They don't realize that rich people aren't stupid.

Motel 6 rooms are going for $1000 a night they say.....

https://www.nytimes.com/2023/0...