I moved there 9 years ago and have spent the last 8 years living on Ocean Drive in South Beach. When I first moved there the neighborhood was full of high-class tourists, a lot of Europeans. The beach was not extremely crowded, you had nice restaurants and upscale shops and the vibes you were getting were similar to what you would see in the Mediterranean (Spain / south France).
Within 3 years of Airbnb expanding, the character of the neighborhood changed completely. By 2014, a lot of restaurants and shops had closed down, to be replaced by 5 dollar souvenir shops (surf style!), kebab and pizza places. Noise levels increased dramatically. Crime too. This kept getting worse and today I would describe the place as little more than a crime-ridden hood. The ghetto criminal element is numerous and ever present. The classy European tourists have left, never to return. Ocean Drive is barricaded by tons of police every weekend (soon to be every night). The beach itself is full of trash and drunken, noisy, unruly people. Spring Break (and memorial day weekend) used to be finite events. Now the same chaos is happening every night. Street racing, fights, urinating in public, condoms, dog and human feces on sidewalks, all of that and more under a lingering stench of weed smoke.
If that's not testament to how Airbnb can ruin entire communities, I don't know what is.
The locals are complaining [1], [2] but nothing seems to change except more money being thrown at police and local interests.
[1] https://www.facebook.com/Residents-for-a-safe-Ocean-Drive-13...
[2] https://www.facebook.com/SouthBeachSludgeReport/
[3] https://wsvn.com/news/local/video-shows-spring-breakers-atta...
Typical night in SOBE.