Short term home rentals such as those offered in the internet via companies like HomeAway and Airbnb do not have a meaningful and large impact on housing affordability in the United States. The latest quarterly house price expectations survey from real estate firm Zillow and Pulsenomics found that nearly all respondents did not think the trend is impacting the property market. Half of the experts surveyed said the impact is meaningful, but small, just over 40% said the impact is not meaningful and about 5% said short term home rentals do have a large impact on housing affordability while 3.8% were unsure. Cities across the country are debating the role short term rentals play in housing affordability. One view suggests short term rentals subtract from the supply of long term rental homes and contribute to rising rents. Others argue short term rental units give home owners an additional source of income, allowing them to more easily afford a monthly mortgage payment.
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