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  • AA5B@lemmy.world
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    2 months ago

    I also don’t really buy the harm to neighbourhoods thing

    I also used to think that, since I haven’t heard it being a problem near me. However a week or so ago, I saw a statistic that 20% of single family home purchases in the US are now by corporations. That’s not just short term rentals but a couple of large companies have gotten into real estate hedging and flipping in a big way.

    So, yes, if that statistic is true, there are a huge number of neighborhoods transitioning from owner permanent residences to corporate owned and short term stay. I can see that corporate role increasing prices and definitely short term stay people will affect the neighborhood or aren’t as likely to care for the property