From Fortune:

A vacation rental investor criticized South Lake Tahoe’s short-term rental ban, claiming it caused an “Airbnb Armageddon” and made home prices plummet. Measure T, which banned short-term rentals, caused home prices to rise by 42 percent and the median rent to increase by 50%. A local group is pushing for a vacancy tax, as 44% of homes in the city are empty most of the year. Due to the pandemic-fueled housing boom, some researchers say the ban on Airbnbs led to a decline in long-term rental prices. However, the impact of Airbnbs on rental properties varies. There is no universal phenomenon when it comes to rental properties, and Airbnb has hired its first senior housing economist to address misunderstandings about their impact on the housing market.



Read more: Airbnb investor on South Lake Tahoe ban: ‘Short-term rental Armageddon’