What Airbnb Did to New York City
Easy to blame lack of affordable housing on AirBnB and not, say, rent control laws or the difficulty of building new housing stock in the city.I get not throwing grandma out of the $250/month 4BR she’s been living in for 50 years, but it means something like 200,000 rent-controlled/rent-stabilized units are also raising everyone else’s rent by decreasing inventory.The endless red tape in new construction makes non-luxury bulidings unprofitable. Want cheaper rents? Fast-track approval for new apt buildings.