Airbnb's success story stands out in stark contrast to the struggles of other startups. Unlike Zillow's disastrous attempt at house-flipping, Airbnb has flourished for over a decade. Their revenue skyrocketed, tripling from $3.3 billion to nearly $10 billion. Even more impressive, they flipped profitability, going from annual losses of $4-5 billion to earning the same staggering amount. Perhaps the strongest indicator of their dominance is their resilient stock price. Unlike the post-IPO crashes
Elastic housing supply is nonsense.
Once a house is there it is there. You dont just demolish it, and build it up again somewhere else.
The only thing that can be elastic is demand. And it is not because moving has high opportunity costs, people are socially integrated in the area they life, feeling at home is a crucial feeling for mental well being…
People renting/buying to life are at a fundamental disadvantage against landlords, who only care about the money coming in. Thinking of housing as a “normal” market like idk. headphones or something shows a lack of economic understanding.