Insider Finance - Business - The fight over Airbnbs

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April 29, 2023

Hello, Insiders. Short-term rentals — like the accommodations available on Airbnb and Vrbo — are at the center of nationwide debates over how to regulate them. Today’s big story focuses on the fight over these rentals in one small city in Montana.

What else is on tap:

Millennials are mocked by Gen Z on social media for their cringey poses.
The barndominium is the hottest thing in alternative housing.
The 25 richest families in America, ranked.

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THE BIG STORY

The fight over Airbnbs

Jeff R Clow/Getty, Stephen Swintek/Getty, Airbnb, Tyler Le/Insider

Airbnb has descended on America's small cities. Now locals must decide how to contain it.

In many ways, Bozeman, Montana, sits at the eye of the short-term-rental storm. It's small and rural, the type of destination that boomed during the pandemic.

But some say the rise of short-term rentals is causing cities like Bozeman to hemorrhage residents. And if investors continue buying up homes for wealthy vacationers for another decade, “there will be no more Bozeman,” one resident said.

For Bozeman Tenants United — a group that’s pushing for a ban on whole-home, short-term rentals — the solution is simple: Bozeman homes should be occupied by Bozeman residents first, before out-of-towners.

For others, it’s more complicated. "The city is in a catch-22," a local real-estate agent and short-term-rental owner said. "They can't really function without the short-term rentals."

READ THE FULL STORY HERE

THIS WEEK'S TRENDS

Selfies, tips, & barndominiums

We Are/ Getty Images

Why millennials are so bad at posing — and Gen Z is so good at it. Millennials are often mocked on social media for their cringey poses. TikToker Christine Buzan said it’s due to what she calls a "scarcity mindset." Read more.
Why you should tip delivery drivers — even if you hate tipping. Insider spoke with gig workers about what they make of the four most common reasons people don't tip (which of course includes the common excuse, “I didn’t think I had to tip!”). Here’s what they had to say.
Move aside, tiny homes. The barndominium is the hottest thing in alternative housing. The farmhouse-style houses show just how much the pandemic has changed what people look for in a home. Find out more.

WEEKEND QUICKLINKS

Wealthy families, iPhone security, & more

Members of the Walton family in 1997. Spencer Tirey/AP

The 25 richest American families, ranked by net worth — starting at roughly $12 billion. From the Hearsts to the Lauders to the Waltons, see our list here.
Watch out: iPhone thieves are using a security feature to lock users out of their Apple accounts, per a report. More here.
The Met Gala is Monday. To get ready, we’ve rounded up what royals have worn to fashion’s biggest night over the years — check them out.
"I work remotely from vacation rentals." A travel blogger says it's cheaper than rent or mortgage — and shares how she finds good deals. Read more.
Rent continues to climb across the US — but apartments in 20 cities, including Detroit and Rochester, are actually getting more affordable. More here.
What it's like grocery shopping in Japan, from the perspective of an American mom — who says it's a far better experience than it is in the US. See why.
If you never wore sunscreen in your 20s, it's not too late to reverse skin damage — here's how.

TAKE A LOOK

NFL makeover

Getty Images; Arizona Cardinals

At least 8 NFL teams are getting new uniforms or helmets for the 2023 season — here's what we've seen so far.

WATCH THIS

Poppies take over

Heavy winter rains made for vibrant poppy fields at California's Elsinore Lake. Thousands have visited to check out the view. Watch the stunning video.

CAN'T GET ENOUGH?

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This edition was edited by Lisa Ryan, Hallam Bullock, Nathan Rennolds, and Phil Rosen. Get in touch: insidertoday@insider.com.

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four most common reasons Jeff R ClowGetty local realestate agent TikToker Christine Buzan Heavy winter rains vibrant poppy fields actionable highvalue news LOOKNFL makeoverGetty Images Bozeman Tenants United The Met Gala one small city

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