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作者

Maxence Valentin

来源

REAL ESTATE ECONOMICS,Vol.49,Issue1,P.152-186

语言

英文

关键字

作者单位

Correspondence Maxence Valentin, Smeal College of Business at The Pennsylvania State University, 308A Business Building, University Park, PA 16802, USA. Email: maxence@psu.edu

摘要

This study examines the effects of regulations targeting Airbnb and other short‐term rental (STR) suppliers in the urban center of New Orleans. I show that although the new ordinances reduced participation in the STR market as intended, STR usage actually increased in the neighborhoods adjacent to areas the most affected by the regulations. I subsequently show that the new regulations depressed property values in the neighborhoods facing the tightest regulations by approximately 30%, implying that homeowners factor into their housing purchasing decisions the option to participate in the STR market.