New York Is Too Expensive to Even Visit (Following Crackdown on Airbnb)

theatlantic.com

2 pointscs7024 comments

Good. Be too expensive. The balance must be thrown off.

Once the balance is off the market can adjust. And if it isn't adjusting in the right direction regulation can step in and give it a shove.

The market is unlikely to adjust when the city is putting its finger on the market scale. What's it going to adjust to? There's no competition, not even the chance of competition under the new laws. What will instead happen is that the city will just prop up the hotel industry.

The hotel industry can compete amongst itself, and increasingly the people I’ve talked to are preferring hotels to Airbnb due to the hidden fees, over-controlling landlords and scams.

Excessively commercializing residential units was creating all sorts of problems with raising rents and wrecking any sense of community for people.

I see this as an overall great thing.

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