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The Effects of Regulating the Housing Short-Term Rental Market: Evidence From New Orleans

Maxence Valentin
2019 Social Science Research Network  
This study exploits the enactment of regulations targeting Airbnb and other short-term rental (STR) suppliers in New Orleans to identify its effects on market participants' behavior and housing value. I show that although new regulations reduced participation in the STR market as intended, STR usage increased in the neighborhoods adjacent to the properties the most affected by the amendments. I subsequently show that the new regulations depressed property values within the neighborhoods facing
more » ... ighborhoods facing the tightest regulations implying that homeowners factor the option to participate in the STR market into their housing purchasing decision. JEL classification: K11, R31, R52, Z30
doi:10.2139/ssrn.3329964 fatcat:wdzk6vy535f4jadzv4dzmlu5fe