Posts Tagged ‘short-term rentals’

Thursday, October 28, 2021

We’ve hit the ceiling on short-term rentals

housingBy Mary Brophy-Moore

I find myself frustrated by the ballooning trend in the Adirondacks, including the Town of Webb, whereby local family homes in once stable neighborhoods are being bought up by out of towners looking to make a killing on short term rentals.

As a resident since 1986, I’ve watched the housing market move steadily upward in terms of new builds and values. In the early 2000’s, especially after 9-11, there was a strong uptick in neighborhood homes being bought by down-staters presumably to have a place to escape the cities and feel safe. That created “dark” spots in previously year-round neighborhoods. But locals at least knew who their neighbors were even if their presence was sporadic. A direct result of the demand was a significant increase in property values that led to the current housing crisis in which locals are unable to afford homes of their own and fewer quality long-term rental units are available. 

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