Instead the sharing economy will make those wage stagnated people's lives more expensive and force them into the sharing economy.
It was like refinancing. In a lot of markets many people couldn't afford a house unless they planned to refinance in a couple years based on price appreciation. With Airbnb the price of apartments will rise to the point where one cannot afford an apartment unless one rents part of it out on Airbnb.
> It was like refinancing. In a lot of markets many people couldn't afford a house unless they planned to refinance in a couple years based on price appreciation. With Airbnb the price of apartments will rise to the point where one cannot afford an apartment unless one rents part of it out on Airbnb.
People keep saying this without any real evidence.
People did the same f'n thing with sharing rent, subletting, etc. before. The only difference is they didn't have as easy access to the tourist market. It isn't going to magically reevaluate the prices of all real estate everywhere as long as its legal.
Refinancing did not become big until computer models and the online connectivity of the customer allowed lenders and consumers to price them very quickly and efficiently. The exact same can be said of the difference existing now in the sharing economy.
I'm not saying the sharing economy should be stopped, but to believe it will be a net benefit to the working class is a bit naive in my opinion.
It was like refinancing. In a lot of markets many people couldn't afford a house unless they planned to refinance in a couple years based on price appreciation. With Airbnb the price of apartments will rise to the point where one cannot afford an apartment unless one rents part of it out on Airbnb.