New Haven Discusses Ordinance to Restrict Short-Term Rentals
What happened
A local ordinance is being discussed in New Haven that would generally restrict short-term rentals to units occupied by homeowners. James Thorson, an economics professor, noted that the nationwide apartment vacancy rate is only about 3.5%. He explained that this low vacancy rate makes landlords reluctant to offer deals, which impacts people struggling to find housing, including recent college graduates and lower-wage workers.
From nbcconnecticut.com
Why it matters
The proposed restrictions seek to encourage corporations to offer more long-term leases in a difficult housing market. Thorson stated that the low vacancy rate prevents landlords from offering favorable terms, which affects those entering the workforce or earning lower wages.
Yale economists in New Haven are currently studying Connecticut's state policies.
From nbcconnecticut.com
Who's involved
- James ThorsonEconomics professor commenting on the housing market and rental trends
- Justin ElickerMayor of New Haven, involved in local policy discussions
- New HavenThe city where the housing ordinance is being discussed
Possible ripples
Who this could reach next, traced step by step from the reporting. Possibilities worth considering, not forecasts.Keep exploring
The entities involved
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Justin Elicker
American politician
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New Haven
city in Connecticut, United States