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Stock impact report

Report: Housing shortage is causing increase in prices [Yahoo! Finance]

Airbnb, Inc. - Class A (ABNB) 
Company Research Source: Yahoo! Finance
(The Center Square) - A new report dispels the notion that short-term rentals are driving up Arizona's housing prices and instead blames a housing shortage. Glenn Farley, Common Sense Institute's policy and research director, told The Center Square there is “no evidence in housing price or short-term rental data” to support the claim that short-term rentals are contributing to housing price increases. A new CSI report released on Thursday finds that the real cause is the housing shortage. The report said Arizona faces a housing deficit of nearly 53,000 units. Arizona's housing construction has nearly been cut in half since the Great Recession. Between 2003 and 2007, Arizona built over 400,000 homes before the Great Recession occurred, which lasted from December 2007 to June 2009, the report said. From 2010 to 2019, the state built about 211,000 units. This represents a 47% decrease. The report said the cumulative shortage of housing since the Great Recession exceeds 121,000 Show less Read more
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