Comment by londgine

Either that, or simply built more (or in NY case, higher) apartments. There is obviously a demand for both short term rentals and for long term rentals. Rather than building enough housing, NY decides to ban one and give it to the other.

This solution reminds me of the "careful mate, this foreigner wants your cookie" comic https://m.facebook.com/photo.php?fbid=2656977204337311&set=a...