As an older developer, this raises my eyebrows.

And in addition, I worry that the article didn't represent the findings very accurately:

"Harvard Business Review's study on the impact of the New York City ban, published earlier this year, concluded that in this case, short term rentals are not the biggest contributor to high rents, and that regulations, rather than bans, would offer better benefits to the city and locals alike."

Perplexity summarizes the findings of that report as:

Sophie Calder-Wang's research on the effects of Airbnb on the rental market in New York City reveals several key findings:

• Overall negative impact: The net effect of Airbnb on renters in New York City is a welfare loss of $178 million per annum
• This loss is primarily driven by increased rents, which outweigh the gains some renters receive from hosting on the platform.
• Rent increases: The study found that Airbnb's presence in the market leads to higher rents for long-term tenants. The losses from increased rents amount to $201 million per year
• Disproportionate effects: Interestingly, the increased rent burden falls most heavily on high-income, educated, and white renters. This is because these groups tend to prefer housing and location amenities that are also most desirable to tourists
• Housing reallocation: Calder-Wang developed a model showing that landlords can now choose between offering their properties on the traditional long-term rental market or the short-term rental market (Airbnb). This reallocation affects equilibrium rents across different housing types and demographic groups
• Direct home-sharing gains: While the overall impact is negative, the study acknowledges that some renters, particularly a small number of low-income households, obtain substantial gains from home-sharing
• Market share: In 2018, Airbnb listings with active transactions represented about 2.2% of all housing units in New York City, with Airbnb capturing over 90% of the short-term rental market share
• Geographic variation: The study highlights significant geographic heterogeneity in Airbnb activity across neighborhoods and boroughs in New York City
• Calder-Wang's research provides a nuanced view of the winners and losers in the sharing economy, offering a framework for understanding the consequences of regulating such technological innovations in the housing market

• (see: https://www.perplexity.ai/sear...)