A report released on Thursday found that about 15% of San Francisco’s vacant housing may have been removed from the market so it could be rented out on sharing economy platform Airbnb. This comes at a time when the company is waging legal battles in several cities—and when renting out one’s home for less than 30 days has just been banned in Santa Monica, Calif.
San Francisco Board Supervisor David Campos held a news conference Thursday, asserting that the report proves Airbnb is a “significant contributor to the housing shortage” that is pushing low- and middle-income families out of the city. While no one denies that the City by the Bay is in the midst of a housing crisis, the company and at least one economist believe that the report and that politician overstate the role that Airbnb plays.
The study was conducted by the city’s independent budget and legislative…
View original post 514 more words