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6 Months After New York Banned Airbnb, New Jersey Is Doing Great

WiredWired · 6m
6 Months After New York Banned Airbnb, New Jersey Is Doing Great

A six-month-old law in New York City that effectively banned short-term rentals, like those offered by Airbnb, has resulted in a decrease in available listings on the platform. The law, which aimed to prioritize long-term housing for residents, has led to frustrated small-time hosts and a rise in tourists seeking accommodations in neighboring areas like New Jersey. While the ban has had some unintended consequences, such as boosting hotel occupancy rates in New York and increasing demand for short-term rentals in nearby cities, its effectiveness in addressing the city's housing problem remains to be seen. Enforcement of the law has been patchy, with hosts turning to alternative platforms to list their properties. Airbnb has opposed the law and hopes for changes that would benefit smaller hosts.

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