NYC debates: Does Airbnb help or hurt affordable housing?
They cater to travelers, but Airbnb and other short-term rental sites are sparking debate over an issue few tourists are likely to unpack: affordable housing.
Scores of proponents and critics held dueling rallies and crowded a City Council hearing Tuesday on the short-term rental boom and whether it saps housing affordability or saves it.
On one side are tenants who say landlords are illegally turning their homes into de facto hotels by renting apartments to high-paying tourists instead of full-time residents. On the other are homeowners and tenants who say Airbnb provides crucial income in a city where even a studio apartment can easily top $2,000 a month.