Santa Monica Bans AirBNB, all major cities follow suit.
Restaurants going out of business, families cannot afford to spend 1400 per night for a family of 4 vacation so they stay home and don’t spend money.
Local restaurants and business can no longer provide local kids jobs, then shortly go out of business due to no tourism.
Compare 2011-2014 restaurant sales during a down economy yet the tourism industry was booming. Now in an up economy due to local government restrictions on affordable vacation rentals, business are suffering.
Welcome to stupid at the local government level.
Housing-market headwinds are keeping American homeowners in their properties for the longest stretches on record, in a sharp distortion of the mobility Americans have for decades prized.
Across the country, homes that sold in the third quarter of this year had been owned an average of 8.23 years, according to an analysis from Attom Data Solutions. That’s almost double the length of time a home sold in 2000, when Attom’s data begin, had been owned.