### Comment:
The regulation risk falls more squarely on the people who are buying homes and renovating them.  Cities are definitely starting to regulate them more, though.  Austin, for example, has a permit system and only releases a few permits for a given area.  This would only really affect the top line growth.

### REPLY:
[Hardly](https://www.wired.com/story/inside-airbnbs-guerrilla-war-against-local-governments/). They spend an absurd amount of money on litigation against municipalities already.  
  
 Locals hate AirBnbs and so do local governments. The regulatory response could kill them in individual markets, especially in areas with strong hotel/traditional hospitality lobbies where AirBnb needs to do well.

### END.