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This Is the True Scale of New York’s Airbnb Apocalypse (www.wired.com)

submitted 1 year ago by L4s@lemmy.world to c/technology@lemmy.world

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This Is the True Scale of New York’s Airbnb Apocalypse::A law meant to crack down on short-term rentals in New York City took effect Tuesday. Thousands have dropped off the map, but there are still hosts offering bookings that may break the law.

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[–] Pohl@lemmy.world 15 points 1 year ago (1 children)

15k units in a city the size of NY seems like peanuts to me. I would be shocked if that creates any noticeable downward pressure on housing prices in the city. Might increase the cost to travel to NYC and depress tourism a bit, but I doubt even that will be a huge effect.

[–] FooBarrington@lemmy.world 12 points 1 year ago

Considering that (as per the newest official numbers I could find) there are 79,190 vacant apartments, this is quite a drastic increase for now.

https://www.nyc.gov/content/tenantprotection/pages/fast-facts-about-housing-in-nyc