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☆ The European housing crisis warping millennial life: The average Croatian lives with parents until 33
▼ + stars: | 2024-05-24 | by ( Joshua Zitser | ) www.businessinsider.com time to read: +9 min

According to Eurostat, the EU statistical office, the average Croatian leaves their parents' home at over 33 years of age, its highest figure. Joshua Zitser/Business InsiderIn the US, almost everyone has moved out by then. Joshua Zitser/Business InsiderWhile tourism brings economic opportunities for Vukovic and many others, he says it has also worsened the already dysfunctional housing market. But in parts of Dubrovnik, Vukovic explained, that's not feasible. Joshua Zitser/Business InsiderFor Josip Crncevic, 34, prices feel far out of reach.

Persons: —, Joshua Zitser, Malohodžić, Ivan Vukovic, Vukovic, Filip Brkan, that's, Josip Crncevic, Crncevic, homeownership, it's, he'd, Marija, Sanja, Angelo, Cikato, Diana Marlais, Bogdan Dascalescu, wouldn't Organizations: Service, Croatian, Business, Eurostat, BI, UNESCO, Heritage, King's, Real Estate Business Association of, Croatian Chamber Locations: Dubrovnik's, Croatia, Dubrovnik, Independence, HBO's, Dubrovnik's suburbs, Marija

☆ Airbnb hosts are bracing for an unpredictable summer
▼ + stars: | 2024-05-19 | by ( Dan Latu | ) www.businessinsider.com time to read: +7 min

Read previewLast summer ushered in a new normal for hosts on Airbnb and other short-term rental booking websites. Ahead of summer 2024, hosts face pressure to stand out from all the other listings in their areas. Adding additional stress is the increased unpredictability of travelers themselves — hosts say guests are booking trips more last-minute than the advance-planning of years past. With direct bookings, hosts are responsible for collecting the proper paperwork for background checks and payment information, and they don't have the additional insurance offered by the major platforms. Influencers can also help promote direct booking, Burke said.

Persons: —, Vrbo, they're, Emily Burke, Rick Kenworthy, he's, Kenworthy, Ryan Villines, Villines, Burke, she'll, she's, they've, who've, Influencers, Tulsans Organizations: Service, Business, Airbnb Locations: Tulsa , Oklahoma, Arizona, Scottsdale, Phoenix, Airbnb, Missouri, Tulsa

☆ Some Airbnb hosts run over 20 properties. Here are the 15 cities these megahosts dominate the most.
▼ + stars: | 2024-05-18 | by ( Dan Latu | Alcynna Lloyd | ) www.businessinsider.com time to read: +3 min

In popular ski destination Steamboat Springs, Colorado, for example, over 60% of the town's total short-term rental inventory is controlled by professional hosts. In 2023, the town created red zones where new short-term-rental permits were banned, according to local radio outlet KUNC. "It's been really lovely," Steamboat Springs resident Torey Wodnik told KUNC about living in the new red zones. Professional hosts may also have the upper hand in offering discounts and adjusting daily rates to capture more guests. Here are the 15 cities with the largest shares of Airbnb hosts that are professional companies.

Persons: —, It's, Torey Wodnik, Jamie Lane, David, Lane Organizations: Service, Business, Steamboat Locations: Oregon, Lincoln City, Newport, New Mexico, Ruidoso, Springs , Colorado, Springs, Steamboat

☆ AI chatbots spew out nonsense too often. But there's a solution: retrieval-augmented generation.
▼ + stars: | 2024-05-16 | by ( Matthew S. Smith | ) www.businessinsider.com time to read: +9 min

RAG was the first," said Bob van Luijt, the CEO and cofounder of the AI data infrastructure company Weaviate. WeaviateThe innovation that's sweeping AI"Every industry that has a lot of unstructured data can benefit from RAG," van Luijt said. Courtesy of Kyle DeSanaHe said that a successful RAG chatbot could carry its own pitfalls. AI engineers are eager to find more proactive solutions that don't require constant meddling with the data RAG provides to the AI. Put simply, an AI chatbot would have an effectively infinite memory, letting it "remember" any data presented to it in the past.

Persons: —, OpenAI's ChatGPT, RAG, Bob van Luijt, Bob, van Luijt, Nadaa, Taiyab, van Lujit, Van Lujit, that's, Kyle DeSana, DeSana, Weaviate, it's Organizations: Service, Nvidia, Companies, Google

☆ Expedia and this beauty stock are among the most oversold names on Wall Street. Here are the others
▼ + stars: | 2024-05-10 | by ( Hakyung Kim | ) www.cnbc.com time to read: +4 min

Using the CNBC Pro Stock Screener tool , we found the most overbought and oversold stocks on Wall Street based on their 14-day relative strength index, or RSI. Stocks with a 14-day RSI lower than 30 fall under oversold territory — and may be due for a rebound in the future. Here are some of the most oversold names: Expedia made the cut of oversold names, off more than 2% week to date. Expedia has a 14-day RSI reading of about 26. The firm also slashed its price target to $434 from $612, citing a faster-than-expected slowdown in the beauty segment.

Persons: Expedia Organizations: Nasdaq, Dow Jones, CNBC, Stock, Barclays, Defense, Leidos Holdings, NextEra Energy, Navigation, Garmin

☆ Morgan Stanley says these stocks could follow Meta and Alphabet in announcing a dividend
▼ + stars: | 2024-05-10 | by ( Samantha Subin | ) www.cnbc.com time to read: +2 min

The dividend stock club could soon get new members, according to Morgan Stanley. Alphabet and Meta Platforms are among the most recent high-profile names to initiate a dividend to give back to shareholders. The search giant announced a 20-cent per share quarterly dividend in April, while Meta Platforms authorized a 50-cent per share dividend in February. The moves bring the total tally of "Magnificent Seven" stocks offering a dividend to five, along with Nvidia, Microsoft and Apple. Broken down by sector, consumer staples, energy and communication services stocks tend to outperform, while materials is the only sector that underperforms following a dividend initiation.

Persons: Morgan Stanley, Todd Castagno, Castagno, Instacart, Regeneron Organizations: Meta, Nvidia, Microsoft, Apple, PayPal, Palo Alto Networks, Expedia Group

☆ Stocks making the biggest moves midday: Apple, Expedia, Block, Live Nation and more
▼ + stars: | 2024-05-03 | by ( Hakyung Kim | ) www.cnbc.com time to read: +3 min

Check out the companies making headlines in midday trading: Apple — The tech giant jumped more than 6% after announcing it would repurchase $110 billion in shares . That topped analysts' estimates for earnings of $1.50 per share on revenue of $90.01 billion, per LSEG. Block — The payment services provider added 1% after posting first-quarter results that beat analysts' expectations. Live Nation Entertainment — Shares jumped 9% on the back of better-than-expected first-quarter revenue. However, the company beat analysts' expectations for the first quarter.

Persons: LSEG, Piper Sandler, FactSet, Eli Lilly, Cloudflare, Jefferies, —, Alex Harring, Lisa Kailai Han, Michelle Fox, Pia Singh Organizations: Apple, Management, Wall Street, BMO Capital Markets, Expedia, Holdings, bullish Bank of America, Novo Nordisk, Arista Networks, Arista Locations: Thursday's, billings

☆ Stocks making the biggest moves premarket: Apple, Amgen, Cloudflare and more
▼ + stars: | 2024-05-03 | by ( Lisa Kailai Han | ) www.cnbc.com time to read: +3 min

Hershey — Shares of the chocolate confectionary maker added about 1% after Hershey posted a first-quarter earnings beat. Hershey's $3.25 billion revenue also beat the $3.11 billion consensus. Amgen — Shares soared 13% after the biotech firm posted a first-quarter earnings and revenue beat. Cloudflare — The stock continued to sink, plunging 12% after reporting weak full-year guidance, although Cloudflare posted a first-quarter earnings and revenue beat. However, Coinbase's first-quarter revenue of $1.64 billion beat the $1.34 billion consensus, according to LSEG.

Persons: Hershey, LSEG, Apple, Eli Lilly, Cloudflare, Expedia, Piper Sandler, Fortinet, FactSet, Jefferies, Coinbase's, Benjamin Nolan, — CNBC's Brian Evans, Michelle Fox, Hakyung Kim, Tanaya Macheel Organizations: Hershey —, Apple, Novo Nordisk, BMO Capital Markets, Revenue, Arista Networks, Arista, LSEG . Union Pacific, JPMorgan Locations: billings, LSEG, Stifel

☆ Jim Cramer's Friday thoughts on 5 stocks: Cloudflare, DraftKings, Expedia, Booking and Hershey
▼ + stars: | 2024-05-03 | by ( Matthew J. Belvedere | ) www.cnbc.com time to read: +2 min

Jim Cramer's daily rapid fire looks at stocks in the news outside the CNBC Investing Club portfolio. Cloudflare : Shares of the content delivery network were sinking 16% after the midpoint of the company's second-quarter revenue outlook came in short of analyst estimates. Expedia : Shares of the online travel booking company were sinking 14%. "Booking perfect," Jim said. But cocoa is in free fall and I think that is an opportunity," Jim said.

Persons: Jim Cramer's, Cramer, Jason Robins, DraftKings, Jim, Vrbo, Hershey, Price Organizations: CNBC, Club, Holdings

☆ Here are Friday's biggest analyst calls: Apple, Target, Coinbase, Berkshire Hathaway, Estee Lauder & more
▼ + stars: | 2024-05-03 | by ( Michael Bloom | ) www.cnbc.com time to read: +6 min

JPMorgan upgrades Williams-Sonoma to neutral from underweight JPMorgan said in its upgrade of the stock that the home furnishings category is stabilizing. "We are downgrading shares of EXPE to Mkt Perform from OP with a target price of $145 vs. $165 previously." JPMorgan upgrades Joby to neutral from underweight JPMorgan said its bear thesis has largely played out for the aviation company. Guggenheim reiterates Target as buy Guggenheim said investors should buy the dip in shares of Target . Morgan Stanley downgrades Estee Lauder to equal weight from overweight Morgan Stanley said it sees a slower recovery for shares of Estee Lauder .

Persons: Stifel, Wells, Truist, OLLI, Guggenheim, Tim Cook, William Blair, Amgen, Jefferies, We've, Ari sta, it's, Morgan Stanley downgrades Estee Lauder, Morgan Stanley, Estee Lauder, TD Cowen, Parsons, Bernstein, Oppenheimer, CFRA, Berkshire Hathaway Organizations: RBC, FTAI Aviation, Pacific, Union Pacific, JPMorgan, Williams, WSM, BMO, Bank of America, Apple, Kiniksa Pharmaceuticals, JOBY, Guggenheim, Target, Citi, MCW, Arista, PSN, Avidity, ~$ Locations: Sonoma, EXPE, GEICO

☆ I made $20,000 in 5 months by renting out extra apartments in my Sacramento backyard
▼ + stars: | 2024-05-02 | by ( Alcynna Lloyd | ) www.businessinsider.com time to read: +6 min

My wife and I live in a century-old home in Sacramento, but also own 13 investment properties spread throughout Texas and California. In 2004, we bought a $300,000 investment property, a duplex in Midtown Sacramento, which we rent out. AdvertisementLast year, I built two cottages on the duplex's lot and began renting them out as ADUs. After several months of collaboration with the company's design team, we submitted an application to the city of Sacramento. AdvertisementWith Sacramento allowing up to 1,200 square feet per ADU, I chose to build two 600-square-foot cottages on the lot.

Persons: —, George Warren, I've, Warren's ADU, Kevin Craig, ADUs, they're, it's, Warren Organizations: Service, Business, Tiny Homes, YouTube, Sacramento State University Locations: Sacramento, Texas, California, Midtown Sacramento, Warren, it's, ADUs, Warren's, Atlanta

Check out the companies making headlines in after-hours trading: Apple — The iPhone maker advanced 7% as it announced a $110 billion share repurchase and a top- and bottom-line beat. That surpassed analysts' estimates for earnings of $1.50 per share on revenue of $90.01 billion, per LSEG. Expedia posted a beat on first-quarter revenue, which came in at $2.89 billion, surpassing analysts' estimates of $2.81 billion, per LSEG. Block reported adjusted earnings of 85 cents per share on revenue of $5.96 billion in the first quarter. Those results beat analysts' estimates for earnings of 72 cents per share and revenue of $5.82 billion, per LSEG.

Persons: Expedia, Amgen, LSEG, Fortinet, Cloudflare, DaVita, FactSet, —, Christina Cheddar, Berk Organizations: Apple Locations: billings

☆ The Meteoric Rise and Spectacular Fall of the Queen of Airbnb
▼ + stars: | 2024-04-21 | by ( Dan Latu | ) www.businessinsider.com time to read: +18 min

Now, after she made her pitch at the VFW hall, attendees clamored around Widell, eager to have her manage their Airbnb rentals. The reign of the Airbnb Queen of Tulsa was over — and her subjects were left to pick up the pieces. Dominic Bugatto for BIThe "Queen of Airbnb" label, which started off as Widell's Airbnb account name, helped create an aura of omnipotence. According to those familiar with the business, Widell seemed to be shifting her focus away from Airbnb rentals to the house-staging business. Today, her "Tulsa Airbnb Group" on Facebook remains active, with some 1,000 members.

Persons: Airbnb, Dani Widell, Widell, Kathy Portley, weren't, —, Emily Burke, Will Widell, They'd, thrifty, Will, who'd, Logan Haskett, Dominic Bugatto, Burke, hadn't, Knikki Nash, she'd, Mallory Massey, Massey, David Brunson, Brunson, Renee Brummett, We've, Dani hasn't, Brummett, doorstepped, unraveled, Nash, Dani, Widell's, carting, Will cosigned, Brummet, Tulsa's, Meagan McCollum, Bram Gallagher, Gallagher, Dan Latu Organizations: VFW, Tulsa, Facebook, Tulsa Real Estate Investors Association, Oklahoma State University, Tulsa People, Mahogany Prime, Summit, Downtown, Social, Bank of America Center, PGA, Investors, Widell, Employees, Rover, BI, nonpayment, University of Tulsa, Business Locations: Tulsa, Tulsa ., Widell, Airbnb, Brady, Arkansas, —

☆ I earn 6 figures working just 10 hours a week. Here's how I rate my 8 income streams based on difficulty and earning potential.
▼ + stars: | 2024-03-13 | by ( Aria Yang | ) www.businessinsider.com time to read: +10 min

Grace Ryu quit her tech job to pursue multiple income streams and now earns over $100,000 a year. Chasing different income streams aligns with my personality — it satisfies my desire to explore and try as much as possible. Here's a breakdown of my eight income streams, with earnings, difficulty level, and time spent each week:Advertisement1. Luxury picnic businessEasy rating: 9/10Lucrative rating: 7/10I run a luxury picnic business with my best friend and my boyfriend. AdvertisementI wish I had diversified my income soonerAlthough building my income streams took a lot of hustling upfront, I wish I had started sooner.

Persons: Grace Ryu, —, Kendra Scott, It's, you'll, isn't, I've Organizations: Service, Facebook, Texas, M University, Brands, Amazon's, UGC, Rover Locations: Houston, New York

☆ Expedia is cutting 1,500 jobs as travel demand slows
▼ + stars: | 2024-02-27 | by ( Jordan Valinsky | ) edition.cnn.com time to read: +1 min

New York CNN —Expedia, the online travel agency, is eliminating about 1,500 employees as part of an “organizational and technological transformation.”The cuts, which amount to nearly 9% of its 17,100-strong global workforce, come amid slowing travel demand following a post-pandemic boom and a broader shakeup at the company, including a new CEO. Expedia (EXPE) said in a regulatory filing that the cuts will result in an $80 million to $100 million charge to its bottom line because of severance and compensation benefits costs. Over time, Expedia has acquired several online traveling booking platforms including Hotels.com, Vrbo, Orbitz, Hotwire.com and Travelocity. An Expedia spokesperson said that the changes “will result in the elimination of some roles” that “allows the company to invest in core strategic areas for growth.”Expedia had previously announced that CEO Peter Kern was departing his role. Ariane Gorin, who is president of Expedia for Business unit, will take over the position in May when Kern’s contract ends.

Persons: New York CNN — Expedia, “, Expedia, wasn’t, ”, ” Expedia, Peter Kern, Ariane Gorin, Max Organizations: New, New York CNN, CNN Locations: New York

☆ Help! My London Rental Apartment Vanished and I’m Out $3,100.
▼ + stars: | 2024-02-22 | by ( Seth Kugel | ) www.nytimes.com time to read: +1 min

Dear Tripped Up,Last May, I reserved a two-bedroom apartment in London for eight days through Booking.com, using a credit card to hold the reservation. I sent the equivalent of $3,100 dollars to the account of a man named Nyholm Peik, which I now know was a foolish thing to do. Soon afterward, Booking emailed to tell me the property was no longer available. Airbnb was just hitting 100,000 listings (compared to seven million today) and most people still thought Vrbo was a typo. Plus, I had wired money for a rental apartment via a similarly dubious-sounding website, rentflat.com.br, in Rio de Janeiro the year before without a hitch.

Persons: Nyholm, Sylvia, Kali Muthu, Airbnb, Vrbo Locations: London, Booking.com, Sylvia , New York City, Rio de Janeiro

☆ Investors in Airbnb arbitrage business allege they were defrauded in scheme promising 'higher returns than the stock market'
▼ + stars: | 2024-02-11 | by ( Rohan Goswami Annie Palmer | Rohan Goswami | In Rohangoswamicnbc | ) www.cnbc.com time to read: +18 min

Airbnb told CNBC that business practices such as Agyeman's aren't permitted. Airbnb told CNBC it had no business relationship with Agyeman and had taken action to curtail his operations. Carr and other HFA investors told CNBC their frustrations were dismissed or met with legal threats. To get around Airbnb's rules, HFA instructed its investors to list their own homes, a former employee and two investors told CNBC. Airbnb told CNBC that it was rolling out a more robust verification process in the U.S. and elsewhere beginning as early as 2024.

Persons: Elham Ataeiazar Daryn Carr, Carr, Anthony Agyeman, Agyeman, HFA, they've, Agyeman haven't, Airbnb, Brian Chesky, Brendan McDermid, Reuters Carr, Thomas Hunker, Hunker, Wessel Botes, Megan Shears, Shears, It's, Kathy, she'd, copywriters, couldn't, who'd, Collin Ballard, Collin Ballard Ballard, Ballard, lister, HFA's, Agyeman's Wealthway, Wealthway, David Levine, he's, Levine, Levine didn't Organizations: Federal Trade Commission, Department of Justice, Justice Department, FTC, CNBC, Inc, New York Stock Exchange, Reuters, Agyeman, Investors, Google, HFA, MGM, Dallas, North Locations: hustles, Covid, New York City, New York, Airbnb, HFA, Texas, Instagram, Fort Myers, Sanibel, Las Vegas, Dallas, U.S, Agyeman, Florida, North America, Botes

☆ Friday analyst calls: Street sticking with Pinterest, Citi upgrades Liberty Global, United Airlines could surge
▼ + stars: | 2024-02-09 | by ( Hakyung Kim | ) www.cnbc.com time to read: +11 min

United Airlines' shares got a premarket lift following an upgrade at Evercore, and Bank of America dropped its price target on Expedia. He raised the price target to $300 from $225, which implies shares could gain 14.6% from Thursday's close. He also lowered his price target to $181 from $156, which implies 13.5% upside potential from Thursday's close. ET United Airlines shares could surge 56%, according to Evercore Evercore upgraded shares of United Airlines to outperform from in-line. He reiterated his $48 price target on shares, which suggests around 18% upside from the stock's closing price on Thursday.

Persons: Pinterest, Morgan Stanley, TransDigm, CyberArk, Tal Liani, Liani, Kim, Justin, Post, Expedia, — Hakyung Kim, Goldman Sachs, Kate McShane, Gary Millerchip's, McShane, Evercore Evercore, Duane Pfennigwerth, Pfennigwerth, Morgan Stanley's, Kristine Liwag, Liwag, there's, LBTY, Georgios Ierodiaconou, Ierodiaconou, Stephen Ju, Ju, Goldman, Eric Sheridan, . Bank of America's Justin Post Organizations: CNBC, Citi, Liberty Global, United Airlines, Bank of America, Bank of America's, Palo, Costco, Incoming, Kroger, Liberty, Wall Street's, UBS, Pinterest, Google, . Bank of America's, Post Locations: underappreciated, Thursday's, Wall

☆ The 24 best places for Airbnb investments in 2024
▼ + stars: | 2024-02-07 | by ( Dan Latu | ) www.businessinsider.com time to read: +3 min

New investors poured in, hoping for profits, only to see increased competition from other new hosts and host revenue dip nationwide in 2023. Some of the best places to invest in short-term-rentals today are in smaller cities near outdoor attractions, according to analytics site AirDNA, which ranks the best places for Airbnb hosts to invest each year. AdvertisementAirDNA also highlighted spots that bucked the national trend to show growth in host revenue last year. Take Marquette, Michigan, a town on the shores of Lake Superior, which initially ranked high among the best places to invest. AdvertisementHere are the best 24 cities and towns to invest in an Airbnb in 2024, according to AirDNA, which provided all the data.

Persons: —, Peggy Gascon, Ryan Villines, Jamie Lane, Lane, AirDNA Organizations: Service, Business, . Locations: Phoenix , Arizona, Montana, Ellsworth , Maine, Acadia, Port Angeles , Washington, . Columbus , Georgia, Chattahoochee, New York City, Dallas, Marquette , Michigan, Lake Superior

☆ Good luck getting a seat at the Paris Olympics opening ceremony. The only tickets left are almost $3,000.
▼ + stars: | 2024-01-29 | by ( Lloyd Lee | ) www.businessinsider.com time to read: +2 min

The 2024 Paris Summer Olympics is seven months away but tickets are selling fast. The only tickets left for the opening ceremony cost about $3,000. AdvertisementSticker shock came for Beyonce, and it's here for the 2024 Paris Olympics, too. The Olympics website shows that the only tickets left promise a front-and-center view of the Eiffel Tower for €2,700 or about $2,930. For the 2020 Tokyo Olympics, the highest-priced opening ceremony tickets cost ¥300,000 or about $2,025.

Persons: —, Beyonce, Cyrille Frémont, BI's Dan Latu, Frémont, Vrbo Organizations: Service, Olympics, Eiffel, Bloomberg, The New York Times Locations: Paris, Airbnb

☆ 2 boomers from Chicago who bought homes in Florida share why they're retiring in the Sunshine State — and what they miss about Illinois
▼ + stars: | 2024-01-13 | by ( Noah Sheidlower | ) www.businessinsider.com time to read: +9 min

Two boomers who are moving to Florida for retirement say the state meets their retirement goals. The Illinois to Florida move in particular was one of the largest US migration patterns between 2021 and 2022. Daniel Mehalek, 61Daniel Mehalek, 61, lived in the Chicago area his whole life. Compared to Chicago, he's paying more on flood, homeowner's, and car insurance in Florida, though it's offset by the over $15,000 in Illinois state taxes he won't have to pay when he relocates. "Insurance is a challenge right now, but I still feel like that's a better situation overall than being in Illinois and paying the property and state taxes," Ron said.

Persons: boomer, —, It's, hasn't, Daniel Mehalek, He's, Mehalek, I'm, Florida hasn't, Ron, he's Organizations: Service, Sunshine State, Business, Chicago, Fortune, Boeing, Citadel, Caterpillar, Illinois, Sarasota Locations: Florida, New York , California , New Jersey, Georgia, Illinois, The Illinois, Georgia , Texas, North Carolina, Chicago, Burr, California, Bonita Springs, Naples —, Wisconsin, Sarasota, New Jersey, Tampa Bay

☆ A self-described real estate visionary was charged with running an Airbnb scam that made millions by tricking guests into booking non-existent properties
▼ + stars: | 2024-01-04 | by ( Hannah Getahun | Kelsey Vlamis | Lloyd Lee | ) www.businessinsider.com time to read: +5 min

NEW LOOK Sign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . The complaint said Goel and associates would purposely double-book guests and then invent "fake last-minute excuses for cancelling overbooked guests or tricking them into switching to inferior replacements." Sometimes, they would encourage guests to stay at alternative properties they offered as a false upgrade and keep the money when guests complained, the indictment said. The indictment said that in some instances, Goel and others working with him listed properties for rent that didn't even exist.

Persons: Shray Goel, Goel, —, Shray Goel —, Alex, Brittany, Jess, Tyler, Goel's, Allie Conti, Airbnb, Vrbo Organizations: US, Prosecutors, Service, Business, FBI Locations: Florida, California, Florida , Illinois, Colorado, Texas, Vrbo

☆ Canada tax rule curbs Airbnb deductions to ease rental shortage
▼ + stars: | 2023-11-21 | by ( ) www.reuters.com time to read: +3 min

REUTERS/Dado Ruvic/Illustration/File Photo Acquire Licensing RightsTORONTO, Nov 21 (Reuters) - Canada introduced tax measures on Tuesday to ease a severe rental housing shortage by limiting income tax deductions on short-term rentals on services such as Airbnb Inc (ABNB.O) and VRBO, joining many countries that are enacting similar laws. The new rules apply as of Jan. 1 in provinces and municipalities that bar short-term rentals, and affect deductions such as interest expenses, the federal government said in its fall economic statement. In Montréal, Toronto and Vancouver alone, an estimated 18,900 homes were being used as short-term rental properties in 2020, the report added, noting that the number "has almost surely increased in recent years." Starting in 2024, the government will spend C$50 million ($36 million) over three years to enable municipal enforcement of restrictions on short-term rentals. Gabriel Giguère, public policy analyst at Montreal Economic Institute, criticized the government's decision to modify the tax treatment of the expenses of owners of short-term rental apartments.

Persons: Dado Ruvic, Nathan Rotman, Gabriel Giguère, Giguère, Nivedita Balu, Richard Chang, Leslie Adler Organizations: REUTERS, Rights TORONTO, Inc, Canada, Montreal Economic Institute, British Columbia, Thomson Locations: Canada, Montréal, Toronto, Vancouver, Montreal, Australia, Italy, Canadian, U.S, Florence, Byron, British

☆ Airbnb used to be about crashing on a stranger's couch for cheap. Now Wall Street wants in.
▼ + stars: | 2023-11-11 | by ( Kelsey Neubauer | ) www.businessinsider.com time to read: +6 min

Airbnb started out with all mom-and-pop hosts, but now big firms are eyeing it as a money-maker. AdvertisementAdvertisementIt started buying up houses in Florida, and renting them out on Airbnb for hundreds of dollars a night, the Wall Street Journal recently reported . "The majority of Airbnb hosts share only one listing," according to a spokesperson. But the shift in operators from mom-and-pop hosts renting their spare bedrooms to major companies renting hundreds of units out has changed the guest experience, too, according to NerdWallet. AdvertisementAdvertisementShort-term rentals can be a volatile investmentRelying on Airbnb, though, can be risky for both mom-and-pop hosts and big-money investors.

Persons: Airbnb, —, Brian Chesky, AirDNA, Skift, Jelke Bosma, Jamie Lane, NerdWallet Organizations: TPG, Service, Wall Street Journal, Saluda, Investment, Davidson, Capital Management, University of Amsterdam Locations: Florida, San Francisco, New York, WEG, Pompano Beach, Fort Lauderdale

☆ I'm a Hawaiian Local. Here's What I Think About the Tourism Industry.
▼ + stars: | 2023-11-09 | by ( Pooja Mistry | ) www.businessinsider.com time to read: +7 min

Keani Rawlins-Fernandez grew up in Hawaii and has seen tourism increase over the years. Now a local council member, Rawlins-Fernandez says locals can feel overrun by tourists. Many economic, social, and financial issues arise with unrestricted tourism, and I don't know how Hawaii will continue to cope with these numbers. I grew up in Molokai, the only island of Hawaii where the economy is not reliant on tourism. My island in Molokai fared better because the model is to cater to local businesses and local patrons instead.

Persons: Keani Rawlins, Fernandez, Rawlins, —, Uncle Walter Ritte, We've, aren't, I've Organizations: Service, Maui County Council, Kaho'olawe, Systems, Fernandez Tourism, Department of Transportation Locations: Hawaii, Maui County, Molokai, Waikiki, Oahu, Hawaiian, Maui, Zion, Utah

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