So far, the strict new regulations governing Airbnb and other short-term rentals have not made a significant impact on the rental housing market.
New York City’s recent crackdown on short-term rentals is reverberating across the tourism industry.
According to an article in The Real Deal, “As of the end of March, the city has scored $16.3 million in settlements from lawsuits related to Local Law 18, Bisnow reported.”
The article notes that short-term rental options declined by 80 percent since the law went into effect. However, over 6,100 new applications were submitted in the first part of 2024. Meanwhile, “Hotels have surged in demand and profitability at the end of the year, recording a jump in average daily rates of 10 percent year-over-year, according to CoStar.”
An analysis conducted in January 2024 — just four months after the new regulations took effect — found no decrease in rents or increase in apartment inventory.
FULL STORY: City fines short-term rental landlords $16M after Airbnb crackdown
A ‘Black Market’ for Short-Term Rentals Grows in NYC
While many owners are listing their rentals on other websites, others are moving them back to the long-term rental market.
New York’s Airbnb Reform, One Month In
Less than half of submissions to the city’s new application process have been approved under new short-term rental regulations.
Spain Moves to Regulate Short-Term Rentals
Calls for regulation at the national level have prompted lawmakers to consider limiting tourist rentals amidst a growing housing crisis.
Americans May Be Stuck — But Why?
Americans are moving a lot less than they once did, and that is a problem. While Yoni Applebaum, in his highly-publicized article Stuck, gets the reasons badly wrong, it's still important to ask: why are we moving so much less than before?
Using Old Oil and Gas Wells for Green Energy Storage
Penn State researchers have found that repurposing abandoned oil and gas wells for geothermal-assisted compressed-air energy storage can boost efficiency, reduce environmental risks, and support clean energy and job transitions.
Placekeeping: Setting a New Precedent for City Planners
How a preservation-based approach to redevelopment and urban design can prevent displacement and honor legacy communities.
San Francisco’s Muni Ridership Grew in 2024
The system saw its highest ridership since before the Covid-19 pandemic, but faces a severe budget shortage in the coming year.
Colorado Lawmakers Move to Protect BRT Funding
In the face of potential federal funding cuts, CDOT leaders reasserted their commitment to planned bus rapid transit projects.
Safe Streets Funding in Jeopardy
The Trump administration is specifically targeting bike infrastructure and other road safety projects in its funding cuts.
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