Airbnb Law Could Wipe Out Half a Billion Dollars in NYC
Will Rinehart
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“The path forward isn’t a myopic ban of short term rentals, especially since many are using that income to afford rent.”

This article misses the distinction between people struggling simply to afford a single place to live and people who have multiple properties and certainly don’t need all of that income to afford rent.

Many (potentially most) people with income from AirBnB are not using it to afford rent. That may be the case if someone is renting out a room in their house. (Does the proposed law cover rooms or full dwellings?) If they’re renting out the whole place, they live elsewhere or have somewhere else to go in the meantime, like a second home. These are not the people for whom affordable housing is an issue.

In Southern California landlords are buying up multiple properties that were standard rentals and turning them into vacation rentals. This decreases available housing for residents in places with already low inventory, driving up prices even more.

This article is missing the broader context of these and other related issues.