Totally agree, we need a level playing field. Especially given some investors are buying property for the sole purpose of renting on AirBnB. This was recently documented in a Boston Globe article.
Investor owned properties rented on weekly bases drive up the cost of housing for everyone, eliminates affordable housing opportunities and hurts our hotel business. All the while, denying communities hotel romm taxes.
Dennis, and most of Cape Cod, has a high percentage of retirees as year round residents. Census data reviewed by the town for the recent housing summit reinforced the high percentage of income going towards housing costs for the retiree income group. Beyond the added burden of food for retirees, is the out of pocket costs for medical expenses. This analysis continues to illustrate the dire need we have to produce affordable housing.
The Economic Development Committee attempted to address this issues a few years ago.
Definitely continues to be an issue, also has a direct impact on affordable housing opportunities.
Based upon the state minimum wage of $8 per hour, and the 2010 median rent in Dennis of $905, it would take 2.17 jobs or working 87 hours per week at minimum wage to pay the rent on an apartment in Dennis. With the pending increase of the minimum wage in the state to $10 per hour, it would still take 1.74 jobs or 70 hours of work per week to afford an average apartment in Dennis.
The Cities Where Even 3 Minimum Wage Jobs Won’t Pay the Rent – Richard Florida – The Atlantic Cities.