2022 map of STVRs by AirDNA
In a nation-wide review of the impacts of short-term rentals on cities, San Diego — and Ocean Beach — are noted. And former OB Town Council prez Gretchen Newsom is quoted.
Business Insider ran a piece on December 7 about how “leaders” in such cities as San Diego and Atlanta are aiming to limit short-term rental activity and that some STVR owners “are pushing back against government regulations.”
It is an ironic twist, isn’t it? She is not mentioned, but Councilwoman Campbell could claim to be one of those “leaders.”
The article explains, under a sub-head of “Cities fight back,” that “This spring, San Diego’s city council adopted an ordinance that would cap short-term-rental properties at 1% of the local housing stock, or about 5,400 units. At the time, there were thought to be more than 12,000 short-term rental properties in the city, the La Jolla Light reported.”
Gretchen Newsom, as chair of OBTC
Gretchen Newsom, the former head of the OBTC and currently a resident elsewhere in San Diego stated, very aptly, back last March to the U-T:
“The sad fact is that the housing stock in Ocean Beach has been decimated by short-term vacation rentals. I have watched over the years as properties on our block get snapped up by investors and get transitioned to short-term vacation rentals.”
The piece by Robert Davis begins:
Short-term rentals became a go-to asset for real-estate investors in cities such as San Diego, Detroit, and Philadelphia during the pandemic as low interest rates and federal stimulus dollars made it easier and cheaper to buy investment properties.
According to AirDNA, as of September there were over 6.1 million short-term-rental listings, up by 19% from September 2019. But lawmakers and housing advocates say that too many properties listed on short-term-rental sites like Airbnb and Vrbo makes it hard for regular homebuyers to compete for houses.
Investor-owned Airbnb rentals have become so ubiquitous that even The Onion has skewered the trend.
In some cities, government officials are trying to regulate the number of short-term rentals that investors can purchase. New regulations have pitted municipalities against corporations and mom-and-pop investors alike by requiring short-term-rental operators to be licensed or by requiring that homeowners live in the properties they plan to rent out.
For the balance, please go here.
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