New York Is Too Crowded for Airbnb

The utopian ideal of apartment rental meets the reality of urban living.

Too few beds, plenty of bagels for breakfast.

Photographer: Michael Nagle/Bloomberg

Airbnb Inc. is all about progress and efficiency and win-win economic outcomes, right? Underused real estate is transformed into lodging for visitors. The owners of the real estate gain, the visitors gain, the local economy gains and Airbnb’s shareholders gain.

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