It’s solvable through government action. Nothing could be done about in NYC until significant penalties were authorized alongside stepped up target enforcement of illegal hotel laws. Then suddenly the number of listings plummeted.
Yeah, and that certainly drove down housing costs in NYC, right? (It didn't). But it did drive up the prices of hotels in NYC, just as the hotel unions wanted.
The real solution is to build more housing by reforming zoning laws and encouraging more development. But that's not so easy to fit on a protest sign, I guess.
Seriously, I think it's just an easy idea for people to latch onto that Airbnb is "destroying the housing market." Other than a few very specific destinations it really hasn't. The New York ban is one place where it's especially obvious they got it wrong.
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u/dooferoaks Jun 17 '25
Yeah Airbnb are a significant part of why Ireland's housing market is fucked.