—–Original Message—–
From: BR
Sent: Sunday, August 28, 2016 11:32 PM
To: [email protected]
Subject: Airbnb
Mr. Block: I am a huge admirer of your Defending the Undefendable. I’m wondering if you’ve written or would be willing to write something in defense of short-term rentals, such as Airbnb. The particular charge I am interested in is they reduce the supply of long-term rentals as landlords convert their places to short-term (because the ROI is greater), thereby increasing the price of long-term rentals. I know there’s a point to be made in defense, I don’t know what it is, but I know you’re the one best able to make whatever that point is. Sincerely, BR
There is nothing, really, to “defend.” Yes, Airbnb will indeed reduce the supply of long-term rentals as landlords convert some of their places to short-term, thereby increasing the price of long-term rentals. But what is wrong with that? Are we to oppose all price increases? Suppose there is a sudden increase in the demand for lettuce, or diamonds. The prices of these two items will rise. Should we have to “defend” this? Hardly. That, rather, is that rational working out of the price system.
4:20 pm on August 29, 2016
