Palm Springs Is Hot. The Old Guard Is Hot Under the Collar.

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With the surge of the sharing economy and online short-term rental sites like VRBO and Airbnb, more people are purchasing homes in Palm Springs, California. Many people buying these homes want to take advantage of their investment potential and capitalize on the growing popularity of Palm Springs as an accessible vacation spot. Although they are growing in popularity, short-term rentals face scrutiny among those in the Palm Springs, including the City Council and local residents. Proposed regulations to short-term rentals threaten to alter home values, making some less likely to purchase homes if they can not be used as short-term rentals. Furthermore, there are growing efforts to prevent residential areas from becoming zones that only host tourists and visitors. There is a desire for balanced regulation so that the city can continue to benefit from tourism but not allow it to detract from the happiness of full-time residents.

Source: Palm Springs Is Hot. The Old Guard Is Hot Under the Collar. – NYTimes.com

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