A new report by the New York City Comptroller's Office has estimated the cost of Airbnb to the city's rental market, and the tab is a big one: $616 million in 2016 alone.
Christine Maurus reports on the findings of the study, which isolated the Airbnb effect in the rental housing market by "[comparing] the growth in what rents would have been without listings on the site to what they actually were."
The report operates from the premise that when owners rent their apartments for short-term rentals, they effectively take those apartments of the market, "reducing the supply of housing and pushing up the cost of what remains," according to Maurus. "For each 1 percent of all residential units in a neighborhood listed on Airbnb, rents in that neighborhood went up 1.58 percent, Stringer said. The estimated $616 million impact is for 2016 alone."
A statement from Airbnb Inc. issued a rebuttal of the report, finding issues with the methodology.
Read the full story: NYC Renters Paid Extra $616 Million Thanks to Airbnb, Study Says
Another Rent Control Initiative on the Ballot in California
There are significant differences between Proposition 21, a statewide rent control measure on the ballot in California, compared to a similar measure defeated soundly by voters in 2018.
Rent Control for New York City Could Spillover Effect to the Rest of the State
The housing crisis isn't the same in every corner of New York State, but new rent control measures in the state legislature could apply solutions intended for the New York City rental market to the entire state.
Rents Falling in New York City; New Supply Gets Credit
New York City is seeing an adjustment in the rental market as landlords struggle to compete for renters in a suddenly crowded market.
Planetizen Federal Action Tracker
A weekly monitor of how Trump’s orders and actions are impacting planners and planning in America.
California plans to bury El Niño’s downpour
If the state plays its cards right, it may be able to store a billion acre-feet of El Niño’s water in aquifers.
Desperate measures: Advocates weigh draining Lake Powell to fill Colorado River
Draining the reservoir could reduce evaporation losses by a couple hundred thousand acre-feet.
California city breaks ground on transit connector
The project includes three mobility hubs and a pedestrian bridge.
After public outcry, Massachusetts city releases housing development tracker
Cambridge’s tracker currently shows 250 housing projects in various stages of development.
40 years after approval, Chicago breaks ground on new park
The park honors Jean Baptiste Point du Sable, the city’s first permanent non-native settler.
FREE Course: Walkable City 1: Why Walkability?
After describing his path towards focusing on walkability as the essence of good planning, Jeff Speck marches through his five principal reasons for making more walkable places.
Reinventing Malls: Planning Alchemy—Turning Gray Fields Into Gold
The course focuses on the opportunities and imperatives that shape reinvention of mall sites.
City of Rosemead
Rutgers University, Edward J. Bloustein School of Planning and Public Policy
One Hundred Miles
Hunter College, City University of New York (CUNY)
The Architects Foundation
University of Cincinnati Online
City of Cambridge
Montrose County
The Pocatello Development Authority