Reventure Consulting and Reventure App CEO Nicholas Gerli says the housing market is in a purgatorial state on Making Money.
Nick Gerli, the CEO of Austin-based Reventure Consulting, recently tweeted that the "Airbnb collapse is real" and that, "Revenues are down nearly 50 percent in cities like Phoenix and Austin." He went on to say, "Watch out for a wave of forced selling from Airbnb owners later this year in the areas hardest hit by the revenue collapse."
He attributed the decline to the end of pandemic-era migration, tweeting: "The pandemic is over. Fewer people are working from home / vacationing in states like Montana, Texas, and Tennessee. So the demand is way down. Just as the Airbnb supply went way up. So you get a crash."
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