New York City has begun enforcing a 2022 law that restricts short-term rentals like Airbnb, $ABNB

9/6/2023

New York City has begun enforcing a 2022 law that restricts short-term rentals like Airbnb, $ABNB.

This action is anticipated to result in the removal of numerous listings from these platforms. It marks the latest and potentially the most significant development in the ongoing dispute between major cities and home-sharing companies.

The city contends that the widespread availability of short-term rentals on platforms such as Airbnb has contributed to rising rents and exacerbated the housing scarcity in New York City.

Airbnb has characterized these new regulations as an "effective prohibition" on its platform, while critics argue that the city is yielding to pressure from the hotel industry and eliminating affordable lodging options for visitors.

Under the new system, rentals shorter than 30 days are only allowed if hosts register with the city. Hosts must commit to being physically present in the home for the duration of the rental, sharing living quarters with their guest.

Unusual Whales does not confirm the information's truthfulness or accuracy of the associated references, data, and cannot verify any of the information. Any content on this site or related pages are not intended to provide legal, tax, investment or insurance advice. Unusual Whales Inc. is not registered as a securities broker-dealer or an investment adviser with the U.S. Securities and Exchange Commission, the Financial Industry Regulatory Authority (“FINRA”) or any state securities regulatory authority. Nothing on Unusual Whales should be construed as an offer to sell, a solicitation of an offer to buy, or a recommendation for any security by Unusual Whales or any third party. Options, investing, trading is risky, and losses are more expected than profits. Please do own research before investing. Please only subscribe after reading our full terms and understanding options and the market, and the inherent risks of trading. It is highly recommended not to trade on this, or any, information from Unusual Whales. Markets are risky, and you will likely lose some or all of your capital. Please check our terms for full details.

Any content on this site or related pages are not intended to provide legal, tax, investment or insurance advice. Unusual Whales Inc. is not registered as a securities broker-dealer or an investment adviser with the U.S. Securities and Exchange Commission, the Financial Industry Regulatory Authority (“FINRA”) or any state securities regulatory authority. Nothing on Unusual Whales should be construed as an offer to sell, a solicitation of an offer to buy, or a recommendation for any security by Unusual Whales or any third party. Certain investment planning tools available on Unusual Whales may provide general investment education based on your input. You are solely responsible for determining whether any investment, investment strategy, security or related transaction is appropriate for you based on your personal investment objectives, financial circumstances and risk tolerance. You should consult your legal or tax professional regarding your specific situation. See terms for more information.

The Blubber

Trump has told Walmart, $WMT, to 'eat the tariffs' instead of raising prices

Moody’s downgrades US credit rating to Aa1 from Aaa

YouTube, GOOGL, viewers will start seeing ads after ‘peak’ moments in videos

CEOs say that just a fraction of AI initiatives are actually delivering the return on investment they expected

Stay Updated