More than one decade after the global crisis of 2008 had started, many Spanish cities entered a phase of post-crisis, marked by a positive macroeconomic setting. Tourism, as a coping strategy, has contributed to this growth, but it has also led to numerous conflicts, summarized by the emerging discussion about overtourism. In Santa Cruz de Tenerife (Spain), the arrival of short-term rentals is associated with a new crisis on the housing market, as the city shows one of the highest growth rates in rental prices in Spain and a severe shortage on the rental market. This paper analyzes how local stakeholders perceive the ongoing process between crisis, post-crisis and overtourism using qualitative interviews. The conducted material reveals that the housing crisis is linked to the effects of overtourism. However, the causes are multi-faceted and a consequence of the 2008 crisis. This is shown by different aspects, such as housing supply, socio-economic vulnerabilities of residents and political issues. Tourism and housing are both cause and result of this complex relationship between crisis and post-crisis. Hence, coping strategies need to address the underlying structures to overcome the crisis symptoms.