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I think that's a false assumption. Is AirBnB really the bottleneck for NYC rents?
by ng12 10y ago
I think that's a false assumption. Is AirBnB really the bottleneck for NYC rents?
- busterarm 10y agoAirBNB units make up 1/5 of 1% of the NYC's rental units. A bottleneck? no, but sizable and impactful, especially when you consider that these tend to be clustered around where they're convenient.
- ng12 10y ago> where they're convenient Convenient is not the right description -- high demand is. Who's to say an AirBnB is a worse use of space for, say, a unit in SoHo than a year-round resident? AirBnB has real issues -- zoning, hotel tax, safety, etc -- but politicians like to use rent cost/resident displacement because it's an easy rallying call.