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New York’s Airbnb Ban Is Descending Into Pure Chaos::People are listing short-term rentals on social media and lesser-known platforms, bolstering a rental black market in New York City.
What did they expect?
All the people who are renting out some spare appartment should suddenly stop it and move in themselves again? ;-)
A spare apartment, you say? Do people just have those lying around?
Yes, they move to a bigger one and rent out their old one for profit.
And, of course, it would be morally unacceptable to get in the way of them maximising the profits they’re entitled to, such as by forcing them to rent it out long-term to some poors rather than allowing them to run an unregulated hotel room, because invisible hand of the free market or something.
Ah yes, the old hermit crab monopoly.
Or they move in with their period-of-life partners, and then maybe eventually back.
Fine, but don’t profit and offer a decent rent length.
They don’t take that risk.
In my city, most of the singles actually keep their own appartments when moving in with a new loved one. It isn’t because of the money, it is their safety net so they can move back eventually. Very few of these appartments are actually rented out. Most are just empty.
And of course they would not want to wait for a year or so.
This number would so low I’m guessing it wouldn’t really move the needle. It’s like having 1 house mate instead of 2 in a 3room appt.
That they would return it to the pool of long term rentals and help drive rent rates down. That or drove them to sell to someone that wants to live there.
Probably.
A similar approach is under discussion even where I live and everyone seems to think that forbidding the “short rent” (as it is called here) will magically put all these apartament on the market for “long rent”, lowering the prices.
Until it is not understood that (well, at least here) AirBnB is not the cause but the result the problem will never be solved.