Source: New York Post
New York promised its 2023 Airbnb ban would free up apartments and ease rents, but two years later rents are higher than ever, vacancies are near zero and the Big Apple’s housing crunch shows no signs of relief, according to a new report. Lawmakers sold the law — known as Local Law 18 — as a way to kick out rowdy tourists and protect New Yorkers from losing housing stock to short-term rentals. The first part worked: neighbors aren’t complaining about revolving-door party guests anymore.
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