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What Do retirees Want? Short-Term-Rental-Free Communities

Inman Connect When Airbnb launched in 2008, the company ushered in the era of the modern boardinghouse where travelers could temporarily rent a home at the click of a button, usually at the fraction of the cost for a hotel or extended stay. The short-term rental industry quickly took off and the criticisms did too cities imposed restrictions, residents complained about wild parties and some Airbnb owners lamented about trashed homes. Tired of living in neighborhoods where Airbnb and VRBO listings abound, luxury second-home and vacation-home buyers are seeking out communities with short-term rental bans. A  Wall Street Journal report published last week revealed the growing number of gated communities in retiree hotspots across Utah, Colorado and  California that are jumping on the trend.

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Transcripts For KNTV NBC Nightly News 20100825

the market rocketed to a 12.5 month supply. that s more than double the number of homes you d usually see in a healthy real estate market. all this despite the fact the federal reserve has pumped a trillion dollars into the mortgage market to push borrowing rates way down. 30 year mortgage rates hit 4.42% in recent days. that s believed to be the all-time record low for mortgage rates. that s where we are tonight. joining me with more on what happened here and what it means for the broader market, diana olick of cnbc, she covers housing for us. diana, good evening. reporter: good evening, brian. you know, it s houses like this one, perfectly appointed, move-in ready, sitting on the market for over six months. like a quarter of all sellers on the market today, this seller has already lowered the price and it s not moving. why? it s that toxic mix of that expired home buyer tax credit, still high unemployment, and overall lack of confidence that s sent housing into yet anothe

Transcripts For WRC NBC Nightly News 20100824

down. 30 year mortgage rates hit 4.42% in recent days. that s believed to be the all time record low for mortgage rates. that s where we are tonight. joining me with more on what happened here and what it mean for the broader economy, diana olick of cnbc, she covers housing for us. diana, good evening. reporter: good evening, it s houses like this one, perfectly appointed, move-in ready, been sitting on the market for over six months. like a quarter of all sellers on the market today, this seller has already lowered the price and it s not moving. why? it s that toxic mix of that expired home buyer tax credit, still high unemployment and overall lack of confidence that s sent housing into another tailspin. the numbers were twice as bad as experts predicted and their predictions were grim. sales of existing homes plummeted across the nation and in nearly every price range. led by a 35% drop in the midwest. the main culprit, the end of the home buyer tax credit. we had the s