It is happening all around the world… tourist locations are struggling to have enough accomodation for their local residents, particularly low-paid workers.
It will work itself out in the long-term, because tourism needs workers, and the workers need local shops and services. In the long-term, being a tourist in those places will cost more, so that workers can be paid more, so they can afford rent. Otherwise, tourism cannot survive without the workers.
In the short-term it is a problem, and some municipalities are setting limits on short-term accomodation and/or taxes on it.
AirBnb is being blamed, but it has merely been the enabler. The real issue is inequality.
More people have more money than in any time in the last century, and the relative income of low-paid workers is declining. The rich are spending more on travel, which also means they can afford to pay more for accomodation that previously. That means a property owner can now get more from short-term renting to rich travellers – even with less than 50$% occupancy – than from long-term locals.
Inequality is creating massive inefficiencies. Short-term accomodation can be empty most of the time and still profitable. Rich people have holiday homes that they barely use. And the relative cost of renting a home keeps rising for poor people, because of a supply shortage.
Inequality is to blame, not AirBnb.