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Airbnb bookings dry up in New York as new short-stay rules are introduced | Under the new restrictions, short-term renters will need to register with the city and must be present in the home for th…::Under the new restrictions, short-term renters will need to register with the city and must be present in the home for the duration of the rental
This is mostly a good thing. The one part of it thats not good is that there is no real replacement. Most of the apartments here are very small, so visiting guests usually need to stay elsewhere. Hotels are very expensive here, so there is a gap where a short term rental style hotel is really needed.
Hotels aren’t really any cheaper than AirBnB after you factor in the laundry list of fees and chores you have to do.
It is funny to even read that, as AirBnb became popular because it was cheaper and more comfortable (yay, kitchen!). And now it’s cheaper to rent from greedy corporate moguls
Life is grand during the VC subsidization stage of a company’s lifecycle.
Honest question, what were they subsidizing? Were they previously charging no or little costs to people hosting? I understand what the delivery and Uber like companies were subsidizing, just not familiar with AirBNB.
For these market makers, both sellers and buyers are subsidized to entice both into the market.
Check out Cory Doctorow’s “enshittification” theory.