Financialization, Tourism, and Community Well-Being: Situating the Regulation of Short-term Rentals Within the Halifax Housing Crisis

Abstract

On 1 September 2023, the Halifax Regional Municipality set in place a regulatory framework restricting short-term rentals to a host's primary residence only in residential zones throughout the municipality. Short-term rentals are temporary overnight accommodations rented out by hosts through online platforms such as AirBNB, offering guests a unique and desirable opportunity to experience a space in a more “authentic” manner than the conventional hotel industry. These regulations were enacted in response to growing criticisms of the commercial short-term rental industry's adverse social and economic impacts in public debate and critical scholarship amid Halifax’s unprecedented housing crisis. While they have flourished within an economic system of housing financialization, they have proliferated in cities across the world as a novel iteration of technocapitalism within the platform economy, transforming the socio-economic landscapes of metropolitan areas around the world. Informed by a growing field of critical literature within this subject, this thesis presents a qualitative thematic analysis of archived footage of a public hearing on these regulations which took place in Halifax on the 21 of February, 2023. Results largely align with existing literature, demonstrating negative impacts on housing markets while perpetuating socio-economic inequities and community disruptions. Within the context of Halifax, community well-being is presented under contrasting conceptions, calling to attention the role of the short-term rental market in the development of a socially and economically sustainable future for the city of Halifax. In keeping pace with the growth of Halifax’s population and tourism industry, navigating the regulation of this market poses a significant challenge in finding a balanced accommodation capacity for residents and tourists alike which prioritizes both housing security and a shared sense of belonging and responsibility at the community level.