October 28, 2016
The hubris of sharing economy enthusiasts far exceeds any of the stuff needed for a new LaGuardia or Penn Station, even if what these people proffer is far less consequential. Airbnb’s revolution doesn’t quite rank with high-speed train travel, the electric bulb, or a modernized airport. Instead, its swollen valuation depends on a flouting of zoning logic that keeps big cities from turning entirely into Ayn Randian theme parks. It’s illegal in New York to rent out your apartment for less than 30 days if you’re not present because allowing landlords to transform apartments into hotel rentals would decimate housing stock. Why profit from annual leases when all that tourist cash is sitting on the table?…
Source: http://www.villagevoice.com/news/the-real-problem-with-airbnb-9280046
