<story><title>Redfin: Vacation real-estate ‘toast’ as Airbnb owners rush to offload homes</title><url>https://www.marketwatch.com/story/vacation-real-estate-markets-are-toast-because-of-the-pandemic-as-airbnb-owners-rush-to-offload-their-homes-redfin-ceo-says-2020-05-11?mod=home-page</url></story><parent_chain></parent_chain><comment><author>k3oni</author><text>I&amp;#x27;m really not expecting to see a significant drop in home  prices at least until close to the end of the year. While some vacation rentals owners might have listed their properties for sale they are doing it pricing those close to the current market value based on other properties for sale in their respective area.
We&amp;#x27;re looking for a vacation home and i&amp;#x27;m monitoring the prices in a few areas pretty close, but i don&amp;#x27;t think we&amp;#x27;ll do anything until the start of 2021.&lt;p&gt;Remember you need surplus to drive price down.
Also keep in mind that the foreclosure process is currently on hold, once this opens again we&amp;#x27;ll be able to get a closer look at the impact all the closures had&amp;#x2F;have on the RE market.</text></comment>
<story><title>Redfin: Vacation real-estate ‘toast’ as Airbnb owners rush to offload homes</title><url>https://www.marketwatch.com/story/vacation-real-estate-markets-are-toast-because-of-the-pandemic-as-airbnb-owners-rush-to-offload-their-homes-redfin-ceo-says-2020-05-11?mod=home-page</url></story><parent_chain></parent_chain><comment><author>JMTQp8lwXL</author><text>The article buries the lede:&lt;p&gt;&amp;gt; Employers that were really stuck on whether to let people work from home have gotten completely unstuck. And if you can work for Goldman Sachs, but not in New York, if you can work for Amazon, but not in Seattle, well, why would you pay the premium?&lt;p&gt;Vacation rentals impact prices, but are a mere slice of the total market. If tastes and preferences shift away from expensive cities due to remote-work friendly policies, that will have a profound shift on not only housing, but automobiles, gas, etc. People certainly enjoy living in cities, but how many people live in cities exclusively for the physically proximate job access they provide? Time will tell.</text></comment>