Nearly every story on a housing crisis casts Airbnb as one the chief villains driving up rents and home prices. So it should not come as a shock that the crisis facing the company as worldwide travel grinds to a halt has been met with glee from people who have struggled to find affordable housing. But will this virus kill the short-term rental app, or merely change it?
What has happened to rents and home prices in cities like Toronto and Vancouver where Airbnb hosts hold a massive amount of units? What about Airbnb landlords, some of whom have sunk their life savings into properties they rent through the app? And what can we learn from this situation about how our cities function and what they should be when life returns to normal?
GUEST: Matt Elliot, municipal affairs columnist, Toronto Star, CBC