Lawmakers look at how Airbnb affects NYC housing, economy
With home-as-hotel sites like Airbnb doing booming business, New York City lawmakers are scrutinizing how the trend affects the housing market and economy.
A City Council hearing Tuesday is shaping up to be a wide-ranging faceoff over the pros and cons of short-term apartment rentals, which have come under scrutiny in New York and other cities around the country. Before the hearing even starts, Airbnb supporters and opponents are set to hold dueling rallies outside City Hall.
Airbnb and similar sites have become a focal point for discussion about whether and how to regulate the growing “sharing economy,” and whether it represents an innovative, person-to-person business model or an unregulated, unruly upstart.