562
The End of Airbnb in New York (www.wired.com)
submitted 2 years ago by [M, B] to c/technology@lemmy.world
74 comments fedilink hide all child comments
 

The End of Airbnb in New York::Thousands of Airbnbs and other short-term rentals are expected to disappear from rental platforms as New York City begins enforcing tight restrictions.

you are viewing a single comment's thread
view the rest of the comments
[–] 19 points 2 years ago (1 child)

Isn't this quite a major event? More empty homes -> more places to choose from -> more competition -> lower prices

  • permalink
  • fedilink
  • source
  • parent
  • hideshow 2 child comments
    •
  • [–] 24 points 2 years ago* (last edited 2 years ago)

    Huge. The short term rental housing boom is unlike almost anything we’ve seen before. Estimates put short term rentals as about 20% of the global real estate market.

    If that demand drops rapidly, it will mark a major shift. Tons of buyers and capital will be wiped off the table.

    I agree with the usual perspective that housing prices almost always rise over time. But this is an unprecedented event in scale, and if reversed, it will have unprecedented ramifications.

  • permalink
  • fedilink
  • source
  • parent