The problem is, the following things happened as a result:
-- Existing short-term rental properties were grandfathered, which artificially has made those properties more valuable.
-- A lot of properties that might have previously been purchased and renovated by investors sit idle because the investors can't turn them into short-term rentals.
-- We have a lot of cottages / really small properties here, that are good short-term rentals but not great regular rentals. so basically a lot of garbage rentals came available that did nothing to actually help our rental market.
-- The hotels knew they now had a more captive market than previously.
So while I appreciate the sentiments of those who wanted to end short-terms rentals in the name of affordable housing, at least in our local market it has not been a good thing.