No problem with new condos catering to those who can afford it – capitalism! – except that as more new developments are coming up, older properties are either falling into disrepair, not experiencing turnover because they're some of the few reasonably-priced options available, or the rents are being jacked up because the owners know it's a seller's market. AirBnB becomes the "cheap" option by default, but it's not necessarily because it's actually cheaper, right? It's the same concept as eating fast food vs. buying groceries. Sure, it's cheaper up front, but you're paying more in the long run. The lack of options is just another barrier that keeps people from being able to get ahead.
Ayy, congratulations!
No friggin' way. Say what you will about Catcher in the Rye and how egotistically whiny and self-indulgent it all is – fair comment. But Heart of Darkness?! Who needs Ambien when you could read the most effective sleeping pill on the market instead?
I had a tenant who I caught trying to rent her apartment on BnB. He rent, for a 2 bedroom was 1250. She was renting it on Air Bnb for 100-120 a night. My rate , as a rental, works to 40 bucks or so a night. If I was inclined, or had time to put up with the Bnb BS, I would be making a crapload of money. BnB is not cheaper, anywhere. That is why landlords flocked to it, on top of the side business they created with the "cleaning" costs associated with a BnB which is pure profit.
New condos are , unfortunately, the only new incoming units to the rental market. But there are many that are older buildings, as most of mine are 50+ years old, that are doing the Air Bnb thing. Those markets will help ease the rental market vacancy rate. I have a new condo , one bedroom , that is in the 1400 range, and that is cheap. My older units are all in the 1050-1125 range.
The problem now is, with the price of land acquisition, insane building costs, and all other development costs...people are not exactly flocking to build rentals.
I would suggest the City, the NCC, do something with all those vacant office towers, and convert them into affordable housing. They have the shell of the building, they have already absorbed the land costs, that is where they should start. Even splitting a building making either the bottom or the top of the building, residential.
It was bad. 
