Banning Airbnb Lowers Rent, The Best Evidence Shows

If you want to lower the rent of real estate in your city, ban Airbnb, shows the best evidence so far. A new study found that an Airbnb ban in Irvine, California lead to rent price decreases.

An article published in the Insider, says "New York City, where the average studio apartment costs $3,016 a month, is the epicenter of the country's sweeping affordable-housing crisis. By turning Airbnbs back into long-term housing, people will have more places to lay their heads and landlords will have more competition. In theory, this should make housing in the city more affordable."

#airbnb

This is Armen Hareyan from Torque News. Please follow us at https://twitter.com/torquenewsauto on Twitter and https://www.torquenews.com/ for daily automotive news.

Reference
The Insider https://www.businessinsider.com/airbnb-ban-makes-rents-housing-prices-drop-irvine-california-study-2023-11

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