![]() Wayfair is suing three of its furniture suppliers, Furniture Today reports, alleging the companies defrauded the online furniture retail giant in a scheme that cost at least $1.5 million-money that it’s demanding back, in addition to compensatory damages. ![]() booked 6 percent fewer nights on average in October 2022. Due to the sudden oversupply, each short-term rental property in the U.S. The phenomenon is partially due to the increased number of second-home owners who purchased properties during the pandemic and have now decided to enter the vacation rental pool-either for additional income or to bide time before selling due to the current housing market slowdown. Instead, the sudden change in the market has to do with a surplus of available short-term rental properties. ![]() In fact, bookings have not fallen-they have increased, with data from short-term-rental analytics firm AirDNA revealing that the number of future nights booked was up 15.8 percent year over year in October. Meanwhile, the hashtag #Airbnbust went viral during the fall as other rental owners took to social media to voice their concerns. ![]() Starting late last spring, vacation rental hosts began to notice a steep drop-off in demand for their services and began dramatically lowering their prices, The Wall Street Journal reports-one owner slashed her Airbnb rate from $1,000 per night to $275 over the course of a few months. When broadcast journalist Soledad O’Brien decided to paint and stencil her home’s old wood floors earlier this year, she sparked an ongoing debate among design enthusiasts online: Was it a fresh renovation choice or a fast track to dinginess? Stay in the know with our weekly roundup of headlines, launches, events, recommended reading and more. ![]()
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