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The End of Airbnb in New York
(www.wired.com)
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this post was submitted on 08 Sep 2023
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Have you considered building more housing?
True! Getting rid of these AirBnBs probably doesn't hurt things though. Now they might actually get a long-term resident.
It probably doesn't but you have to wonder why that company was so successful to begin with. I feel like we are celebrating a weight loss company getting banned.
There is a housing shortage, there is a hotel room shortage. Someone took advantage of that. Getting rid of that someone doesn't stop the next person.
I was successful because it's skirting (pretty blatantly breaking actually) rental laws and thus gains an advantage over the competition.
Well I think it was successful for the same reason so many unicorn startups are. They were bankrolled by promising angel investors marketshare so they were able to run artificially brutally low prices to dry out the rest of the market for years. But now investors are asking for those profits back and we're here dealing with horrible Airbnb prices AND it made the housing crisis worse. Double whammy, bb!!