Santa Monica Bans AirBNB, all major cities follow suit.
Results?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.
Home prices in the U.S. rose at a slower pace for the fifth consecutive month, yet another sign that the housing market is cooling down.
Standard & Poor’s said Tuesday that its S&P CoreLogic Case-Shiller national home price index reported a 5.8% annual gain in August, down from 6% in the previous month. It is the first time in a year that annual gains fell below 6%. The 20-City Composite posted a 5.5% year-over-year increase, down from 5.9% in July — substantially lower than analysts’ expectation of 5.8%.
“Following reports that home sales are flat to down, price gains are beginning to moderate,” said David M. Blitzer, managing director and chairman of the index committee at S&P Dow Jones Indices, in a press statement. “Other housing data tell a similar story: prices and sales of new single family homes are weakening, housing starts are mixed and residential fixed investment is down in the last three quarters.”