Originally Posted by
Benny Profane
It ain't no dis, or dat.
Simple economics. No new housing is being built here except for mega mansions, expensive "luxury lifestyle" quasi time share schemes (although that's slowed down dramatically since 08), and public/private partnership housing for average people with average incomes who both work and live here, but the latter will probably never make it to the rental market due to tight restrictions. Now, if part of the old condo market gets eaten up by private owners who don't want or have to rent to fund the purchase, then, ouila, less rooms for dirtbags to rent, and the prices rise. I never considered the Air B&B factor, but, that will be a passing fad, when the owners realize how hard it is to rent out their prescious asset to drunk and stoned skiers from New Jersey and clean up after them without professional help.