Short-term rentals ‘gobbled up’ homes, worsening housing supply, Philly Fed
president says. But Airbnb pushes back, saying it’s too easy an explanation.
A For Rent Sign Outside a House.
After the president and CEO of the Philadelphia Federal Reserve blamed Airbnb for the
lack of housing in New Jersey, the short-term rental company pushed back, noting that
only 0.4 percent of the housing stock in the Garden State is listed on its platform, and it
offers an essential way for homeowners to make extra income. The article goes further to say that zoning laws limiting multifamily housing are pricing out low- and middle-
income families. It’s pretty obvious: More apartments and workforce housing near
employers would go much further in solving the housing crisis than limiting Airbnbs near the Jersey shore.
https://www.marketwatch.com/amp/story/short-term-rentals-gobbled-up-homes-
worsening-housing-supply-philly-fed-president-says-but-airbnb-pushes-back-saying-its-too-easy-an-explanation-11665579878
