"We cannot live with all these types of restrictions ... this will, in my humble opinion, kill the short-term rental economy in Colorado," said property management company owner Hillary Skye at this week's hearing.
Colorado house prices and rental costs are crazy expensive and have been for years. We need a crash in rental and property prices -- enough to get affordable for normal people again.
Importantly, the original intent* of AirBnB (renting your place while you're away or on vacation) won't be impacted unless you take more than 90 days of vacations in a year.
rented for more than 90 days a year on a short-term basis
Seems reasonable to me. Colorado defines a "short term basis rental" as 1 to 29 days.
So people renting extra rooms on a month to month (or longer) basis to help make ends meet won't be affected either.
* The original advertised intent before large corpos started buying up properties to list them on AirBnB
Speaking about the broader point about housing collapse hurting homeowners of a single home, I wouldn't call people who had 50K-100K saved that went towards downpayment rich. There certainly are many poorer people but saving this much requires earning just $1000 extra per month for 5-10 years. That's $10/hr more. These aren't the rich people that should be eaten.
I'm just addressing the general point of who gets hurt during a real estate market collapse. I know the article is talking about landlord taxes. Those are going to hurt the right people. In fact I was going to suggest that if you want to hurt rich people more than the working class, you want to tax them and/or pay the working class more, not tank the markets that render vast quantities of working class homeless.
Lol just $1000 extra a month. I agree that no, those people aren't ultra wealthy, but let's not act like that much a month isn't a completely unobtainable amount for many, many people, especially when rent is eating up 50% of people's paychecks to start with.
They keep calling them "homeowners". These are not "homeowners", these are "landowners" or "landlords". A homeowner is someone whose property is their primary residence. Homeowners are not having their taxes increased, just landlords.
I bought a house in the Denver metro area in 2015. I just sold it this past summer for more than twice what I originally bought it for. There's asset appreciation and then there's whatever the hell you call that.
I would not have been able to afford a house at current prices and I make considerably more than minimum wage. I don't know how people are doing it.
I used to live on a farm where my boss owned a tow-truck business. The pandemic hit us hard and I couldn't afford the rent, so I had to sell my truck and move into a bachelor in the city. Six months ago I had to downsize again to a bedroom in a rooming house.
Traditionally housing on average has appreciated about the pace of inflation. Along with supply and demand on a local level for places growing or declining.