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Hyp: when urban residential real estate becomes 1% speculation/capital storage asset, 99% must become nomadic
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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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i'm not so sure; most US cities have homeownership rate of 60%-70% . presumably some renters are choice so can afford to own
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LA, NYC, SF, San Jose some of lowest (LA at ~48%, others 50s), and Seattle, DC, Boston, Portland in lower half with ~60%
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