Article: "Airbnbust One Year Later"

[Andrew Steffens]

Good morning -

I finally had a chance to read this article:

https://www.biggerpockets.com/blog/airbnbust-one-year-later

I am generally agreeing. According to our revenue manager we are up 14% YoY. I have watched a lot of subpar listings go on the MLS and sold to homebuyers and/or flipped to LTR's. At least in our primary market (Tampa) I think 2023 created a purge of subpar listings and subpar owner's (get rich quick types) and now has created an environment where the good survive and the best thrive and the rest have died. Also the owners and long term minded which are easier to work with and are guests are overall more satisfied.

I am curious to hear other's comments and thoughts overall and in their specific markets!

[John Underwood]

I agree. This seems to be somewhat of a STR correction.

I personally know of people who chased the STR Shiny object, could make it work and had to sell at a loss.

I think these people didn't do a great job of due diligence and were overly optimistic of what they could make.