New Phoenix property trend worsening housing market shortage, expert says
People are buying luxury homes to list on vacation rental sites like Airbnb, which is tightening the already existing housing shortage.
People are buying luxury homes to list on vacation rental sites like Airbnb, which is tightening the already existing housing shortage.
In this story that aired May 23, 2021, on 12News:
An entire industry is beginning to evolve around this. Phoenix is a resort destination community anyway. We have amenities that support a desire for people to be here and you have now more options.
– Mark Stapp, Fred E. Taylor Professor in Real Estate and director of the Master of Real Estate Development program
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