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.
https://worldpopulationreview.com/world-cities/barcelona-pop...
from >>40752920 ("Barcelona has a 16,000 people per square km density - that’s already one of the highest in Europe.")
Capital moves faster than meat space. To defend the human (affordable housing), you have to regulate. The whole "just build more, I want my AirBnB" argument boggles the mind considering the physical system constraints in play. Easier to just ban AirBnB.
Locals get votes, tourists and AirBnB do not. The harm of not being able to afford housing is far worse than harm incurred by not being able to book a vacation rental you prefer.
Normally hotels are built near either business or tourist areas. Very few people want their residences in the suburban office park areas. Tourist areas tend to be older areas that have strong restrictions on new development--hotels there have to go through long permitting processes.