Yes, that's all very nice, but I still say AirBnB is evil because they create a situation in which the locals are priced out of the housing market.
So, I will repeat. AirBnB is the devil, and I urgently wish to see it banned from Argentina completely.
To borrow a phrase from Cato the Elder, "AirBnB delenda est!"
Well you will NEVER see it banned. So that ain't happening ever. Look at how it all works. Add 2+2 together. Do you realize the wealthy in Argentina do NOT keep money in banks or stock market? Do you know where they have virtually ALL their wealth??? It's real estate. And it's not just the wealthy. I employed hundreds of employees in Argentina over the past 20 years. Do you know where I have harped on them to put their money? It's real estate. The only thing saving former employees is they listened to my advice to buy an apartment or 2 or 3. I'm not talking executives. I'm talking secretaries! And kids. At many times throughout the past 2 decades you could buy an apartment for as little as $45,000 US and you could buy them in "pozo" and pay over years each month. So that's what many did.
Wealthy, politicians, business owners, etc. They ALL own real estate. Where do you think they are renting it out?
Be logical. Do the math. Follow the money. They aren't going to shoot themselves in the feet. Not only do THEY have all their money in real estate but so do all their family, friends, etc.
Are they evil? That's not my call. It's economics and pure market business forces working. It's never going away. Look now with 0 rentals. If you're renting expect to keep paying more and more each year. It's freaking cheap now but it's not going to stay that way. If you're only a renter, you're basically going to be screwed....... Or at the very least you're going to be paying much much more to rent in the future vs. now.
If you were a local would you rent your locked into a 3 YEAR lease with only one time you can raise the rent when inflation is 150% a year or would you rent on Airbnb. YOUR thinking is evil selfishly wanting a cheap rent vs. allowing locals to survive. What is EVIL is the politicians that refuse to change the laws back to sensical laws. Because if they did this whole long term rental situation would get resolved.
Just saying. I really love your posts Redpossem. You're a fellow Californian and I can tell you are a good person. But I'm just saying don't hold your breath on them ever banning Airbnb. It's not going to happen. I'm pushing for regulation there but have for over 20 years.
I've done a lot of things in my career that I'm very proud of. I've started companies from scratch and turned them into leaders in their sectors, gotten companies acquired by big public companies, had ideas for businesses that are powering important public companies. They are teaching my business plan in business schools around the world. But none of that matters to me. The single biggest thing I'm proud of is when I get messages like this attached from former employees. This is a secretary that worked for me in Buenos Aires several years ago.
