housing market

housing market

Airbnb Reduced New York Housing Stock by 10%

1d ago
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Affordable housing advocacy groups have found out that more than 55% of listings in new york city on Airbnb are illegal.Companies like Airbnb are flooding New York City’s housing market, reducing available housing stock citywide by 10% apparently. entire home or apartment listings were rented out illegally by commercial hosts for at least three months a year or single listings rented for at least six months a year. The landlords or hosts made more than $300m from renting them out short-term.