The Share Economy

Tomio Geron heralds its rise:

The sharing concept has created markets out of things that wouldn’t have been considered monetizable assets before. A few dozen square feet in a driveway can now produce income via Parking Panda. A pooch-friendly room in your house is suddenly a pet penthouse via DogVacay. On Rentoid, an outdoorsy type with a newborn who suddenly notices her camping tent never gets used can rent it out at $10 a day to a city slicker who’d otherwise have to buy one. On SnapGoods, a drill lying fallow in a garage can become a $10-a-day income source from a homeowner who just needs to put up some quick drywall. On Liquid, an unused bicycle becomes a way for a traveler to cheaply get around while visiting town for $20 a day.

McArdle wonders about the consequences of this trend:

Peer to peer sharing could create something like a tax on low-density housing: you have to have your own car, and your own tools, and you can’t rent your house out while you’re on vacation. There’s a good chance this would translate into  [higher] prices for urban housing, or lower prices for rural homes.