The "Airbnbust" Is Teaching Rich People A Hard Lesson In Capitalism

Airbnb hosts are worried about an 'Airbnbust' because the short-term rental bubble may be popping. Ana Kasparian and Cenk Uygur discuss on The Young Turks. Watch TYT LIVE on weekdays 6-8 pm ET. http://youtube.com/theyoungturks/live

Read more HERE: https://time.com/6223185/airbnbs-empty-short-term-rentals/

"Airbnbs are empty. At least that’s what it seems like to some Airbnb hosts, even though the company reported its “most profitable quarter ever” on Tuesday.

Some social media users have been speculating for weeks that the “Airbnbust is upon us,” as one viral tweet read. The conversation has swept across a number of social platforms, from Twitter to Facebook to Reddit, and it includes other short-term rental platforms like VRBO, too.

Their concerns have merit—some short-term rental hosts are weathering a steep decline in occupancy rates as the holiday season approaches. But it’s not because people don’t want to travel. Instead, market analysts say many U.S. Airbnbs are sitting empty because so many wealthier people and investors listed short-term rentals on the site, in the wake of a pandemic-fueled boom."

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