BRUSSELS - Europe’s top court on Tuesday gave its backing to European cities cracking down on short-term rentals of private homes to solve a housing crunch, dealing a setback to homesharing site Airbnb.From Amsterdam to New York and Paris, authorities have blamed Airbnb for worsening housing shortages in their cities which have pushed out lower-income residents. France is Airbnb’s second largest market after the United States.
“National legislation making the repeated short-term letting of accommodation to a transient clientele which does not take up residence there subject to authorisation is consistent with EU law,” judges said.
What Airbnb does is turn residential real estate into commercial real estate and that's not fair to the people who live there.