Morning Roundup (11/15/2021)– Forbearances Drop Below 2%, Airbnb To Impact Market In 2022

Good Morning! Today is Monday, November 15. The Glasgow climate summit ended with an agreement by nearly 200 countries to cut their carbon emissions in half this decade. An appeals court barred President Biden’s vaccine mandate for large employers. A New York Times report revealed the US hid an airstrike that killed civilians in Syria. And in mortgage and housing news… Forbearances Drop Below 2%: Forbearance exits jumped week-over-week, with nearly 300,000 borrowers leaving their plans, Black Knight reported. Airbnb Will Majorly Impact 2022 Market: Analysts predict Airbnb will expand its inventory 25% in 2022, suggesting it will have a significant impact on the housing market next year. AEI Response: The AEI Housing Center published a response to FHFA’s proposed…

Analysts See Airbnb As A Major Player In 2022 Housing Market

Airbnb is predicted to increase its inventory by 25% in 2022, giving it huge leverage to impact the residential real estate market next year, according to analyst Chris Linsell. During a presentation at the 2021 REALTORS® Conference & Expo, Linsell, senior real estate writer for TheClose.com, said Airbnb’s expansion will likely negatively impact housing affordability and inventory. “Airbnb (is) not just selling their product to consumers, they are selling to the providers of the product. They are selling twice without holding their own inventory. This unique model opens up an incredible level of scalability,” he said. “Many of those housing units are going to come from the residential real estate market.” He noted that the impact on residential housing could…

VRBO Won’t Bar DC Inauguration Week Bookings

Days after Airbnb announced it would cancel all Washington, DC, reservations during Inauguration week, VRBO signaled that it would not follow its competitor’s lead. In a blog post, VRBO instead said, “If you mistreat people, there’s no space for you on Vrbo. We reserve the right to remove anyone from our marketplace who violates these principles, and we are encouraging hosts to cancel bookings during this time if they believe a guest intends to violate these policies.” VRBO noted that authorities have warned that there is a potential for violence and armed protests around the Inauguration following the Jan. 6 siege of the Capitol. “The safety of our guests and hosts is of the utmost importance to us. If you plan…

Airbnb Cancels All DC Inaugural Bookings

Airbnb announced Wednesday that is cancelling all booked reservations in the Washington, D.C., metropolitan area during Inauguration week. The online rental site also will take no new reservations in the Capitol region during that week. Airbnb implemented the ban in response to officials asking people not to travel to Washington for the Inauguration in the wake of last week’s siege on the Capitol, in addition to the ongoing Covid-19 pandemic. “Guests whose reservations are canceled will be refunded in full,” Airbnb said in a statement. “We also will reimburse hosts, at Airbnb’s expense, the money they would have earned from these cancelled reservations.” On Monday, DC Mayor Muriel Bowser, Maryland Gov. Larry Hogan and Virginia Gov. Ralph Northam issued a…