Category: Sublets

Outbreak of informality: Part 2, Don’t think of it as protection money

19 September, 2013 (09:00) | Airbnb, Apartments, Formalization, Hotels, Housing, Informality, Markets, New York City, Regulation, Rent stabilization, Rental, Sublets, Theory, US News |

[Continued from yesterday’s Part 1.]   By:David A. Smith   In yesterday’s post, riffing on a short article in Crains New York (August 19, 2013) about New York City’s efforts to ‘do something’ about the outbreak of people renting their apartments for short-term stays via Airbnb and similar web sites, I explored the whole category […]

Outbreak of informality: Part 1, Ignore it and hope it’ll go away

18 September, 2013 (11:15) | Airbnb, Apartments, Formalization, Hotels, Housing, Informality, Markets, New York City, Regulation, Rent stabilization, Rental, Sublets, Theory, US News |

By:David A. Smith   An epidemic of informality is breaking out in New York City, and, as reported in Crains New York (August 19, 2013), the authorities are overwhelmed.  Will they be able to contain the epidemic before all are infected?   Sublets!  We want sublets!   The invaders have opened a portal into the […]