June 28, 2016
A new report commissioned and paid for by Housing Conservation Coordinators and MFY Legal Services purports to show to what degree Airbnb is contributing to New York City’s housing crisis. For each of the top 20 neighborhoods for Airbnb listings in Manhattan and Brooklyn, average rent increases have nearly doubled the citywide average from 2011 to 2015. In 2015, the report estimates the city also lost more than 8,000 housing units to Airbnb, reducing access to affordable housing in the city by 10%. “This report is the most damning yet for Airbnb,” said New York state senator Liz Kreuger. “It demonstrates unequivocally that illegal short-term rentals on Airbnb have a significant negative impact on housing in New York City, taking affordable units off the market and driving up rents for everyone else. In my district on the Upper East Side, illegal “impact” listings take up 17% percent of available rental housing. That means that while those apartments are funneling profits to Airbnb, they are not available for regular New Yorkers to live in. Once again we see that Airbnb’s greed is making our housing crisis worse, and hurting the working families they claim to champion.”…
Source: https://skift.com/2016/06/28/measuring-the-impact-of-airbnb-rentals-on-new-york-citys-housing-crisis/
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