It seems to me that this change will have unintended effects and will fail to produce the desired results.
AFAIK rent in NYC hasn’t gone down since they changed their short-term rental regulations.
I might be naive, but I’d assume that the solution is to build more housing to increase the supply instead of curbing the demand?
Genuinely curious about others’ takes on this.
Demand for tourist housing is probably a bit more elastic than for residential housing, so it'll probably help a bit, but in general, I agree that growing the pie is better than bitter fights over how to cut the pie up.