December 16, 2016
Melissa Grace, a deputy press secretary from the Mayor’s Office, told Real Estate Weekly that, with the city’s vacancy rate at 3.45 percent, taking even just a few thousand units off the market can impact rental rates. “In the midst of an affordable housing crisis, we are seeing thousands of listings for what appear to be illegal, short-term stays. As we move to implement the powerful new State law, and work with our existing enforcement tools, it’s clear that affordable homes are being rented as illegal hotels – and often without basic fire safety measures that protect New Yorkers and visitors,” she said…
Source: http://rew-online.com/2016/12/16/experts-dispute-airbnbs-impact-on-housing-supply-and-rental-rates/
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