record-breaking number of Americans
are expected to fly this weekend. Many of them will be traveling to stay with friends or family, but some, like me, will be heading to short-term rentals. I'll be staying in an Airbnb in upstate New York with friends. and has continued to increase into this year. One analytics site forecast a 10% increase in nights booked on these platforms for the year.
But with many more listings available, the increased supply has more than offset the pickup in demand. That's left hosts having to hustle, dropping prices and worrying about whether last-minute guests will come through. While luxe rentals with hot tubs and firepits book months in advance and cheap and cheerful locations attract budget-conscious travelers, the properties in between are getting squeezed.The real-estate industry is facing an existential threat.
If the plaintiffs succeed, the rules about how agents get paid could be rewritten. It could result in increased competition among agents, dramatically lower commissions, and as much as $30 billion a year in savings for consumers.
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