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How one US city's cap on Airbnb and short-term rentals had knock-on effects on home prices and its property market

When Palm Springs in California, a city dependent on tourism, capped the number of private rental properties, house prices fell and property sales slowed.

Desert-park , California , United-states , Cathedral-city , Indian-wells , La-quinta , Palm-springs , Coachella-valley , New-york , Tim-sarlund , Michael-copeland , Gene-autry

When Palm Springs capped short-term rentals, home prices dropped

Two years ago, YouTube star Luan Palomera paid $1.5 million for a chic vacation home in Palm Springs.

Palm-springs , California , United-states , El-mirador , Rancho-vista , Indian-wells , New-york , Beverly-hills , La-quinta , Cathedral-city , Coachella-valley , Desert-park

Palm Springs capped Airbnb rentals. Some home prices are dropping

Palm Springs curbed short-term rentals in some neighborhoods. Now homeowners are watching their property values drop, sometimes drastically.

Palm-spring , California , United-states , New-york , Beverly-hills , Indian-wells , Cathedral-city , Palm-springs , Coachella-valley , El-mirador , Palm-canyon , Desert-park