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Airbnb hosts revert to long-term rentals as rising costs of living hits bookings (www.abc.net.au)

submitted 1 year ago by Zagorath@aussie.zone to c/brisbane@aussie.zone

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Article is technically about the Gold Coast, but hopefully this will also apply to Brisbane.

A point of correction: the ABC's author said BCC last week announced a 50% increase in rates for short term accommodation. They announced that last year. Last week they announced they're increasing that from 50% to 65%.

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[–] StoryTooMany@aussie.zone 7 points 1 year ago (1 children)

Because people have forgotten real-estate is an investment, and think it's a machine that just prints money for them. When the inevitable reality check comes, they get emotional.

No sympathy, though. It's nice to see some councils are finally changing the rules to put a stop to the Airbnb nonsense, even if others are all 'we can't change the rules, people have made investment decisions based on them'. That's the risk you take when investing! Bigger risk, bigger returns. You want minimal risk, put your money in the bank.

[–] macrocephalic@lemmy.fmhy.ml 2 points 1 year ago

Real estate is a way to provide housing to people first, it's an investment second.