Airbnb: (un)affordable housing in Quebec City

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In a statement released a few days ago by Airbnb, they have supplied the public with some stats to indicate how little Airbnb is influencing the Québec City housing market. Leaving their responsibility for the rise of house prices elsewhere. Stating the following:

“Airbnb takes the issue of affordable housing in Québec City very seriously and we are committed to promoting responsible home sharing through information sharing.

We took a look at the data and are sharing the following facts about our Airbnb community in Québec City:

Airbnb’s entire home listings are a tiny fraction of the Québec City housing market.

Only 3,300 entire home listings hosted at least one trip in the study period (Oct. 1, 2017 – Oct. 1, 2018) — just 1.3% of Québec City’s 266,409 housing units.

The vast majority of entire home listings are shared occasionally. In the past year, 40% of entire home listings in Québec City were rented for less than 30 days, 66% were rented less than 90 days, and 85% were shared less than 180 days.

Airbnb is a housing affordability solution.

In 2017, 51% of surveyed hosts in Québec City reported that they use Airbnb to help stay in their homes.

Simply put, entire home listings on Airbnb are not a driver of housing prices in Québec City. Local hosts tend to rent only occasionally, earning modest but meaningful supplemental income. The scale, frequency, and earning volumes are too small to be meaningfully driving up home prices.Airbnb wants to continue to work with Québec City to ensure any regulations balance affordability concerns with the right of everyday people to share their homes.”

Thoughts on responsibility

It would be one thing to take responsibility. But considering the stats it doesn’t seem outrageous for Airbnb to state “The scale, frequency, and earning volumes are too small to be meaningfully driving up home prices. Perhaps Québec City needs to look at individual investors. Who is investing in Québec anyway? Who is out buying the Canadians?

Perhaps the quality of life in Canada is just too high. Be less desirable Québec City, be less awesome.

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