U.S.: Vacation rentals in NYC no longer on the table thanks to new law
- Craigslist entrepreneurs in NYC: Sorry. After saying he would veto the law, New York Governor David Paterson passed a law banning short-term vacation rentals in the city, forcing people to go to licensed hotels instead. If you go to Craigslist, you’ll see quite the cottage industry exists for this kind of housing. NYC mayor and noted iPad fanatic Michael Bloomberg supported the measure: “When housing designated for permanent occupancy is illegally converted into a hotel, unsafe conditions are created, the residential character of City neighborhoods is harmed and the supply of much-needed units of housing is depleted,” he said. Or, more likely, this cottage industry bloomed because hotels in NYC are super-expensive and out of whack with the rest of the country. source