Short Term Rentals "Fumble" in Phoenix During Super Bowl - Housing Bubble 2.0

When the Housing Market changes, or rather Corrects and Crashes, we typically see certain kinds of Real Estate properties that are the first casualties. I think that the Short Term rental market and their Landlords/Hosts/Owners will be the first to fall as many would have jumped on the Short Term bandwagon and purchased properties over the past 2 years at a premium. Now that there may be an over supply of short term rentals, the business plan to convert them into monthly rentals or annual leases may not work financially. It will be interesting to see what happens over the course of this year.