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Spain fines Airbnb €65M: Why the government is cracking down on illegal rentals

euronews.com

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Re: Spain fines Airbnb €65M: Why the government is cracking down on illegal rentals

#41

Post by mrtksn »

reed1234 wrote: post #24
dvt wrote: post #22

This is not just a problem in Spain. Affordable housing is a problem in almost every Western metro, both in the US and in Europe. The problem is caused by the financialization of real estate. I know it's always been a bit of a financial asset, but the past 40 years have really seen this accelerate to pretty crazy levels. The issue, when you boil it down to the basics is: wealthy folks, development companies, overseas…

Is it not a supply and demand problem? Then the only rational solution to get prices down is to build more housing.

It's not that more houses are needed, its that more houses are needed at specific location and the people in that specific location don't like the idea of demolishing houses and make them taller or turn a city park into housing.

There are so many empty and decaying homes all over Europe, in Italy they sell houses for 1 Euro. Yes there's a catch but that catch is that you are supposed to renovate the house for a cost that ranges from 20K euros to 100K euros and this is still quite cheap considering that you end up with a proper house at a picturesque location.

Re: Spain fines Airbnb €65M: Why the government is cracking down on illegal rentals

#43

Post by em500 »

reed1234 wrote: post #24
dvt wrote: post #22

This is not just a problem in Spain. Affordable housing is a problem in almost every Western metro, both in the US and in Europe. The problem is caused by the financialization of real estate. I know it's always been a bit of a financial asset, but the past 40 years have really seen this accelerate to pretty crazy levels. The issue, when you boil it down to the basics is: wealthy folks, development companies, overseas…

Is it not a supply and demand problem? Then the only rational solution to get prices down is to build more housing.

Almost everywhere the issues with housing boil down to 1) location constitute a large part of the value and desirability, 2) substitutability between houses in different locations is limited, 3) the most desirable locations will have the strongest opposition from local residents to increase supply.

Re: Spain fines Airbnb €65M: Why the government is cracking down on illegal rentals

#45

Post by embedding-shape »

daedrdev wrote: post #9

The main issue with going after airbnb is that its a true bandaid fix: the gains in supply are often offset by just a few years or months progression of the underbuilding of supply

Sure, but the article is specifically about that subject, while the government been working and continues to work on many other fixes too. Limiting rent increases, among other things, is constantly being talked and enacted right now, so at least it's going in the right direction.

Airbnb is one of many problems, and all of them require something done about it. But one does not exclude the other, if you look up the "Spain" tag on your favorite international news source I'm sure you can dig out the other measures being taken currently.

Re: Spain fines Airbnb €65M: Why the government is cracking down on illegal rentals

#46

Post by dvt »

reed1234 wrote: post #40
dvt wrote: post #22

This is not just a problem in Spain. Affordable housing is a problem in almost every Western metro, both in the US and in Europe. The problem is caused by the financialization of real estate. I know it's always been a bit of a financial asset, but the past 40 years have really seen this accelerate to pretty crazy levels. The issue, when you boil it down to the basics is: wealthy folks, development companies, overseas…

Also, are you aware your personal site has a malicious captcha? It looks like cloudflare but has instructions to press windows-R and paste the auto-copied text which runs a malicious msi. I was surprised since you are such a prolific commentator. Almost fell for it. Hope it’s not social engineering.

Thanks for the heads up, I think my WP got hacked somehow. Will take it offline and investigate.

Re: Spain fines Airbnb €65M: Why the government is cracking down on illegal rentals

#47

Post by embedding-shape »

exabrial wrote: post #42

__thats it__??? it's missing like 5 zeros on the righthand side of that number.

> The fine is equal to six times the profits Airbnb made while the properties were still listed despite being in breach of the rules.

As long as it wasn't profitable for them to do bad stuff (which it wasn't, since the fine is 6 times the size of their profits from that period of time), I'm happy enough about. You win some, you lose some, this is closer to winning than loosing so thank you Ministerio de Consumo.

Re: Spain fines Airbnb €65M: Why the government is cracking down on illegal rentals

#48

Post by reed1234 »

dvt wrote: post #46
reed1234 wrote: post #40

Earlier quoted context omitted.

Also, are you aware your personal site has a malicious captcha? It looks like cloudflare but has instructions to press windows-R and paste the auto-copied text which runs a malicious msi. I was surprised since you are such a prolific commentator. Almost fell for it. Hope it’s not social engineering.

Thanks for the heads up, I think my WP got hacked somehow. Will take it offline and investigate.

For sure. Sorry that happened to you
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