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Money Continues To Talk
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While the story here is about the people living in the Greek islands who are being forced out of their homes, it could apply anywhere there are high property values and a tourism industry: Renters are being sent packing because the owners of their apartments see dollar signs in Airbnb rentals. It leaves no place for people to actually live, which, as we've seen with insane property values in places like Silicon Valley, means there's no place for people who work there to live, and a rapidly shrinking service work force as a result. The only hope is that the Airbnb trade is disappointing and landlords figure a longer term lease is at least money in the bank. (BBC)
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