THOUSANDS OF AIRBNBS and short-term rentals are about to be wiped off the map in New York City.
Local Law 18, which came into force Tuesday, is so strict it doesn’t just limit how Airbnb operates in the city—it almost bans it entirely for many guests and hosts. From now on, all short-term rental hosts in New York must register with the city, and only those who live in the place they’re renting—and are present when someone is staying—can qualify. And people can only have two guests.
In 2022 alone, short-term rental listings made $85 million in New York.
Airbnb’s attempts to fight back against the new law have, to date, been unsuccessful.
There are currently more than 40,000 Airbnbs in New York, according to Inside Airbnb, which tracks listings on the platform. As of June, 22,434 of those were short-term rentals, defined as places that can be booked for fewer than 30 days.
Source: https://www.wired.com/story/airbnb-ban-new-york-city/
[link] [comments] https://www.reddit.com/r/stocks/comments/16bmqaw/the_end_of_airbnb_in_new_york_local_law_18_goes/
Login to add comment
Other posts in this group
Please use this thread to discuss your portfolio, learn of other stock tickers, and help out users by giving constructive criticism.
Why quarterly? Public comp
When you sell a stock to buy another stock, do you prefer to set the estimated amount of the capital gains taxes aside in a money market or do you think it better to
Saving for retirement is crucial, but relying solely on a 401(k) might not be enough due to high inflation. Consider investing in growth stocks, especially in the tec
I’m think this is not a good investment as there is no chatter at all on the 52 week low. They are involved in a class action lawsuits by investors and credit card co
Sorry if this is the wrong sub. Let’s say I had $1 million in VOO but I wanted to sell half of it to buy SCHD. It would suck to pay taxes on $500k. So how would you g
Hey guys, I did a deep dive into Crocs. In this analysis, I will do a brief breakdown of the company and go over some quantitative data, qualitative data and estimate
