There are few better examples of how bad Airbnb is for housing availability than the case of Andrew Chapman, a Montreal resident who lives in a condo building as its only full-time resident. The other eight units in his building are being rented out to tourists using Airbnb.
“We buy houses, whether it’s on a street with picket fences or in a condo, and part of the experience is to get to know your neighbors and build relationships with the people that live close to you,” he told the CBC, which calculated that 5 percent of the city’s Plateau-Mont-Royal neighborhood is listed on the short-term rental service.
The situation illustrates just how large an effect Airbnb has on gentrification, in which available housing stock is taken up by owners or companies that can afford to rent for shorter terms at higher prices. Meanwhile, people trying to find a place to live long term face a dearth of options.