Flagstaff is a nice area. Phoenix’s problem is the artificial house scarcity problem. So many companies seen the crazy growth after 2008 and bought up a bunch of houses for AirBnB.
“AirDNA found that from February 2017 to January 2023, Airbnb and VRBO listings in Phoenix more than quadrupled, growing to 21,000 from 5,000. A request for comment from Airbnb was not immediately returned on Friday.”
Removing that many homes from an area will make prices skyrocket. Ashville NC, Myrtle Beach SC, Nashville TN, are some other areas dealing with it as well. Minus the extreme heat.
Flagstaff is a nice area. Phoenix’s problem is the artificial house scarcity problem. So many companies seen the crazy growth after 2008 and bought up a bunch of houses for AirBnB.
“AirDNA found that from February 2017 to January 2023, Airbnb and VRBO listings in Phoenix more than quadrupled, growing to 21,000 from 5,000. A request for comment from Airbnb was not immediately returned on Friday.”
https://www.businessinsider.com/phoenix-airbnb-super-bowl-weekend-short-term-rental-market-2023-2?op=1
Removing that many homes from an area will make prices skyrocket. Ashville NC, Myrtle Beach SC, Nashville TN, are some other areas dealing with it as well. Minus the extreme heat.