Short-term rentals, facilitated by platforms such as Airbnb, have had a significant impact on New York City neighborhoods. These rentals have been both praised for their potential to boost local economies and criticized for their effects on housing availability and affordability.

One major impact of short-term rentals is the potential to drive up housing costs in popular neighborhoods. As property owners can often earn more from short-term rentals than traditional long-term leases, there is an incentive to convert residential units into vacation rentals. This can reduce the available housing stock for long-term residents and contribute to rising rents.

Additionally, the influx of short-term renters can disrupt the social fabric of neighborhoods. With a revolving door of temporary residents, the sense of community and neighborly connections can be weakened. This can have implications for the overall well-being of a neighborhood.

On the other hand, short-term rentals can also bring economic benefits to neighborhoods. They can attract tourists who spend money at local businesses, restaurants, and attractions, thereby contributing to the local economy. In some cases, short-term rentals have revitalized areas that were previously overlooked by traditional tourism.

However, it's important to strike a balance between the economic benefits and the potential negative impacts of short-term rentals. Regulations and policies need to be carefully crafted to ensure that neighborhoods maintain their residential character and affordability while still reaping the economic benefits of tourism.

References:

• "The Impact of Short-Term Rentals on Housing Affordability" - New York Times
• "Economic Effects of Short-Term Rentals in Urban Areas" - Journal of Urban Economics
• "Community Impacts of Short-Term Rentals" - Urban Studies Journal