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>Put in that context, the legislation seems pretty well-aimed at its goal of creating more affordable housing in the city. At the cost of higher temporary hous
by hueving 10y ago
>Put in that context, the legislation seems pretty well-aimed at its goal of creating more affordable housing in the city.
At the cost of higher temporary housing costs for people that want to visit. Addressing supply by ripping supply from a different market is a bandaid.
This benefits hotels much more than low income people.
- jacalata 10y agoThis supply was explicitly built for longterm residents - it's written into the zoning laws. If you want to remove the concept of residential zoning, then start building that political platform. Will be interesting to see whether you choose to make residential housing conform to hotel firecodes, etc, in that platform!
- mjevans 10y agoI believe the parent poster was expressing a desire to fix the problem by enforcing //more supply// rather than by artificially limiting how existing supply can service different types of demand.
- untog 10y agoBut supply is not unlimited. If you are adding more supply of short term visitor rentals, you are taking from long term resident rentals.
- mjevans 10y agoYou are viewing this as a zero-sum game. I am viewing it as the city not encouraging economic development and designing a sustainable balance of work, living, and entertainment areas.
- untog 10y ago> You are viewing this as a zero-sum game Because it is. There is precious little new space for residential buildings in New York. How does people renting out apartments on AirBnB create a "sustainable balance of work, living, and entertainment areas"?
- bjterry 10y agoThe airspace above New York which you could encapsulate with more walls is worth quite literally hundreds of billions of dollars.
- acveilleux 10y ago> At the cost of higher temporary housing costs for people that want to visit. Addressing supply by ripping supply from a different market is a bandaid. That's not such a bad thing. The market has demonstrated that hotels and similar will be built until supply mostly meets the demand. No one will build affordable housing when they can build expensive housing instead.
- MarkMc 10y ago> No one will build affordable housing when they can build expensive housing instead. This problem is due to restrictions on supply. Consider the statement, "No one will build affordable cars when they can build expensive cars instead"
- minikites 10y agoCars can be moved and occupy shared spaces. Dwellings are anchored to the earth and exclude other dwellings from the same location.
- eherot 10y agoHow does this affect the validity of the original statement?
- MarkMc 10y agoYup, that's one restriction on supply. Other restrictions include: 1. Limits on the height of new buildings 2. Limits on the ability to demolish or extend existing buildings 3. Limits on the minimum size of new apartments 4. Limits on the number of people who can live in an apartment
- acveilleux 10y agoAffordable cars get built because the market for cars is saturated. Where the supply of some key component of cars a limiting factor on the production capability of car manufacturers, expensive cars would be the only ones produced.
- 10y ago
- kafkaesq 10y agoThis benefits hotels much more than low income people. By what metric?
- deleted 10y ago[deleted]
- mjevans 10y agoA possible metric is limiting competition by keeping existing (likely paid for by hotels and others interested in high lodging/housing costs) barriers to competition in place. Another possible metric is comparing the benefit to some versus the benefits to others. The need for rent control at all, as well as the surely depressingly long lines for any waiting list / lottery for rent controlled units, points to a market that has already failed to serve the needs of the community. Compounding that, the fact that AirBnB or any similar offering is able to so successfully compete with hotels in the area signals that one or more aspects of the hotels is dramatically out of alignment with what the competition that is being eliminated can offer. It /may/ be price, but factored in to that should be the security and piece of mind that a more established name brand and reputation has; possibly the hotels (like Taxis) are doing a poor job upholding a quality brand name, or those that do charge far more than they should if competition were actually a factor for them.
- kafkaesq 10y agoThanks for the thoughtful response. Still, it'd be nice of one of the many people who downvoted my comment in the past few minutes can explain why I wasn't "allowed" to ask that question.
- guelo 10y agoVisitors don't get a vote. New York is for New Yorkers.
- sbarre 10y agoTell that to everyone who lives on tourism dollars. Visitors vote with the money they spend in New York.
- tptacek 10y agoI don't think NYC needs the help.
- hueving 10y agoTourism resulted in 45 billion spending. That number even ignores figures from people that travel there to do deals with companies, etc. https://en.m.wikipedia.org/wiki/Tourism_in_New_York_City https://en.m.wikipedia.org/wiki/Tourism_in_New_York_City
- tedunangst 10y agoHow did New York survive before airbnb???
- antisthenes 10y agoThe only solution that's not a band-aid is to kick out multiple property owners, retirees, and generally all non-productive people out of metropolitan areas to drive prices down, while at the same time removing rent controls. Oh and also to remove most of the bullshit NIMBY zoning laws. But that's obviously not politically feasible now, is it?
- zip1234 10y agoAgreed--government playing whack-a-mole again with regulation. Instead, perhaps the regulations governing construction of buildings, zoning, etc are a problem because they inhibit construction that could meet market demand.
- lagadu 10y ago> At the cost of higher temporary housing costs for people that want to visit. You're implying this is a bad thing. A city's first responsibility is towards its residents, everyone else comes after their needs and wants are catered to.
- cortesoft 10y agoHow long do you have to be somewhere before you are a resident whose needs should be catered to? A year? A month? A week? Anyone staying in your city is a resident while they are there.
- lagadu 10y ago1 minute (though in practical terms that may take a few days), from the moment you registered your address and are able to vote. Everyone else is an outsider.