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In this picture seems like AirBnB has to be a net good. Acts like a derivative instrument to reliquefy unused stock for partial local value
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Thought experiment: you only allow ownership with no capital controls stopping remote ownership. And no AirBnB. Cities would necessarily die
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You forgot an important function of residential real estate: buy-in to public assistance that banks get a cut of (mortgage deduction).
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Can these cities become pointless but valuable like Monte Carlo fast enough to not crash when the present economic engine disappears?
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