Housing market fears sparked by Airbnb decline

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Robert Kiyosaki, author of 'Rich Dad Poor Dad', said an Airbnb decline, after restrictions in NYC, would be a great opportunity for people to buy real estate.

added that this possible crash could be a good financial opportunity for investors and homebuyers.

AIR B&B to lead real estate market crash. If you want a new home your happy days are around the corner. Same for rental property. The best time to get rich is in a crash. Good luck."If you want a new home your happy days are around the corner. Same for rental property," Kiyosaki wrote."The best time to get rich is in a crash. Good luck," he added.

The post received a lot of traction and was viewed by over 2.4 million users, with many thanking Kiyosaki. He founded his business Rich Dad Company on the back of the popularity of his 1997 bestseller, for suggesting a golden opportunity in real estate. It's not the first time that Kiyosaki, as well as other experts, have raised the alarm over an incoming crash of the housing market, which has so far proved resilient in the face of rising mortgage rates and skyrocketing prices.

The same can be said for Airbnb. A viral tweet on X in June 2023 suggested that the company has suffered a drop in revenues of nearly 50 percent in cities such as Phoenix and Austin. Nick Gerli, the CEO of Reventure Consulting who had shared the post,A larger study by the short-term rental intelligence firm AirDNA then proved that Airbnb revenues has declined by only 3.6 percent over the past year.

 

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