4 ms·

I’m skeptical of the claim that short-term rental clampdown is the main factor influencing NYC’s $300-a-night average hotel room rate these days. It seems like

by alwa 2y ago

I’m skeptical of the claim that short-term rental clampdown is the main factor influencing NYC’s $300-a-night average hotel room rate these days. It seems likely also to have to do with the decision [0] to convert 20% of the city’s stock of hotels to shelters even as demand rebounded post-COVID. Primarily the stock on the cheaper end of the market. [0] https://www.nytimes.com/2024/05/25/nyregion/hotels-prices-migrants-nyc.html https://www.nytimes.com/2024/05/25/nyregion/hotels-prices-mi...?

amy-petrik-214 2y ago
I agree with this thinking. Funny the city is using short term housing as long term shelters, but then bans using long term housing for short term rental because that distorts the market so! Hypocritical, yes, but the winner of the hypocritical scenario is the local citizen, and the loser, the tourist, which is typical of NYC and many other cities.
- caustic-view 2y ago
  > but the winner of the hypocritical scenario is the local citizen, and the loser, the tourist, which is typical of NYC and many other cities. We aren’t talking about war crimes, so yeah this all sounds completely normal and kind of a truism? Why would or should a local polity put the interests of outsiders ahead of those of its own citizens, especially with regards to housing?
  - kelnos 2y ago
    Because people don't always understand the whole picture when it comes to their interests. Perhaps it's a city where tourism is incredibly important for prosperity. Maybe making things harder on tourists will result in problems for local businesses, or lower tax revenue that impacts the services the city can provide to its residents. And maybe not -- but it's plausible, and city officials need to take this sort of thing into account.
- jihiggins 2y ago
  is that a problem...? should a city not prioritize its citizens over random vacationers?

by alwa 2y ago

amy-petrik-214 2y ago

I agree with this thinking. Funny the city is using short term housing as long term shelters, but then bans using long term housing for short term rental because that distorts the market so! Hypocritical, yes, but the winner of the hypocritical scenario is the local citizen, and the loser, the tourist, which is typical of NYC and many other cities.

caustic-view 2y ago
> but the winner of the hypocritical scenario is the local citizen, and the loser, the tourist, which is typical of NYC and many other cities. We aren’t talking about war crimes, so yeah this all sounds completely normal and kind of a truism? Why would or should a local polity put the interests of outsiders ahead of those of its own citizens, especially with regards to housing?
- kelnos 2y ago
  Because people don't always understand the whole picture when it comes to their interests. Perhaps it's a city where tourism is incredibly important for prosperity. Maybe making things harder on tourists will result in problems for local businesses, or lower tax revenue that impacts the services the city can provide to its residents. And maybe not -- but it's plausible, and city officials need to take this sort of thing into account.
jihiggins 2y ago
is that a problem...? should a city not prioritize its citizens over random vacationers?