I disagree. Even loosely factoring in parameters such as construction costs and timelines, permitting, current construction activity, and overall housing stock elasticity, you find a correlation with hotel/short-term housing and regional sale prices and availability.
In markets where supply is not artificially constrained nobody demonizes or really cares about short term rentals. It’s only in markets where housing is constrained where suddenly Airbnb is to blame for all our problems.
