NYC is cracking down on Airbnb

The latest stupidity could make your next trip in New York City more expensive. law Local politicians have created a solution. The administration of Mayor Eric Adams is advancing a registration law that would crack down on Airbnbs and enforce existing-but-not-enforced laws requiring that only parts of homes where the owner resides can be listed on Airbnb—meaning you can’t rent out an entire unit you own via Airbnb. 

There are so many problems with this it’s hard to know where to start.

For one, it’s just wrong on principle. The owners of these properties Own them. They should be able do whatever they like with them as long as they don’t hurt anyone else. 

What’s more, this is going to send Airbnb prices soaring and hurt both tourists and the countless parts of New York City’s economy that depend on them. Officials in the city admit It is expected that approximately 10,000 Airbnb listings will disappear from the market. That’s about 25% of all Airbnbs available in the city! It’s just basic economics that when you drastically restrict supply, prices will soar. This will discourage tourism and increase costs. It also makes New York less attractive as a destination because you won’t be able to rent a unit.

“The City is set to enact a law that would drastically affect the ability of New York Hosts to continue sharing their homes,” Airbnb warns. “As a result, short-term rental accommodations for travelers like you will be dramatically reduced to hotels and a shared room with no locks.” 

So, it’s not just property owners who will suffer, but everyone from retail employees to pizza shops to hotdog stand owners, who all rely enormously on tourists to pay their bills. The company claims that this is what it means. “This will restrict travel options outside popular tourism areas and hurt small businesses throughout the city.”

Officials claim that the measure will address the housing crisis by increasing residential rental availability. However, not all of these Airbnbs can be converted into regular rental housing. For example, many are occupied seasonally by their owners and can’t be rented out like normal, so they’ll just sit empty half the year. Mayor Adams, great job! 

Importantly, Airbnbs don’t account for the high rent in New York City. Not even close.

New York City must remove the myriad of regulations and policies that affect the construction and supply new housing. This will help address the current rental crisis. so difficult, expensive, and unprofitable. The housing crisis will not end until they do. 

New Yorkers will suffer as a result of the policy’s failure to achieve its goals. Brooklyn Airbnb host, fed up put it, “It’s the kind of despicable, bureaucratic act that makes me want to move out of this once great city.”

How many New Yorkers will have to flee before the leaders see that things are getting worse?

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