The end of Airbnb in New York

Local Law 18, which took effect in New York City this week, requires all short-term rental hosts to register with the city and limits eligible hosts to those who live in and are present at the property, with a two-guest cap. Airbnb calls the rules a "de facto ban" on its business, and a judge dismissed the company's lawsuit against the city in August. The city's Office of Special Enforcement had granted 257 registrations out of more than 800 applications reviewed as of late August, and Airbnb says unregistered reservations from December 2 onward will be canceled and refunded.