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.
At its current size the city seems to have hit a sweet spot of desirability which caused prices to skyrocket, and it brings a lot of tourist money to the same residents who are protesting.
I think we need to shift from simplistic housing availability calculations to more broadly considering the motivations of people