This may have begun as a nice person-to-person home sharing, but it has turned into home grabbing for business,’ says Judith Goldman, a Los Angeles member of a coalition called Keep Neighborhoods First. In Los Angeles, she notes, entire areas have been taken over by middlemen real estate agents who buy up the homes and run them as short-term rentals.
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‘This has really reduced the stock of homes available for normal residents to rent and has turned these areas into hotel strips,’ she says.
It’s happening in cities around the country, particularly in high-priced ones such as New York, Ms. Goldman says. She works with ShareBetter, a New York coalition dealing with similar issues on the East Coast. Read full article.
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