https://datastream.substack.com/p/what-did-banning-airbnbs-in-nyc-accomplish
Ban from 2023 dropped NYC listings from nearly 13k to round 1.6k in the present day. Promised to return flats to long run rental market and ease rents.
Three years later rents in NYC up 11%. Inns costliest on file. Evaluation finds ban gave again solely months of regular housing development provide.
Occasion examine exhibits no notable impact on rents. Finest estimate saved typical renter about $52 a yr however confidence interval contains zero and even greater rents.
Ban hit more durable on decrease revenue non white hosts particularly in Southeast Queens. Misplaced listings price nearly six months median revenue there versus two months in wealthy areas.
Many listings transformed to 30 day minimums or left platform. Some hosts misplaced aspect revenue. Tourism and World Cup guests now despatched to New Jersey.
