New York’s Airbnb Crackdown, in Force for Two Years, Hasn’t Improved Housing Supply - The Wall Street Journal
Summary
Two years after New York City's strict Airbnb regulations took effect, housing supply hasn't improved, according to a recent Wall Street Journal article. This suggests the crackdown may not be achieving its intended goal of increasing long-term housing availability, raising questions about the effectiveness of similar regulations. The article's findings highlight potential unintended consequences for the short-term rental market.
Key Insights
- •New York's Airbnb crackdown has been in force for two years.
- •The crackdown hasn't improved the housing supply.
Action Items
- ✓Hosts in areas with similar regulations should monitor local market trends and assess the impact of these regulations on their occupancy and profitability.Effort: lowImpact: medium
Common Mistakes
- ⚠Hosts should be aware that similar regulations may not achieve their intended goals.
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St. Louis aldermen have approved a short-term rental fee, though a legal battle over existing rules continues. This indicates a focus on regulating the STR market within the city. Hosts in St. Louis should be aware of these new fees, which may impact their profitability. Find out how this affects your STR business.
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