Airbnb down as co set to face more restrictions after EU proposes rules to tackle housing crunch
BUZZ-Airbnb down as co set to face more restrictions after EU proposes rules to tackle housing crunch ** Shares of Airbnb ABNB.O down ~3% at $170
** Co set to face more restrictions as the European Commission proposed rules to help authorities tackle a housing crunch in tourism hotspots
** The shortage of affordable housing has led many young Europeans to protest against the growth of short-term holiday rentals
** "A year ago, I promised to tackle Europe's housing affordability. Today, we are taking one step in this direction. By providing more clarity and support to local authorities and communities, anchored in local realities," Commission President Ursula von der Leyen said in a statement
** Including session's moves, ABNB up 25.2% YTD
(Reporting by Megavarshini G. Somasundaram in Bengaluru)
((Megavarshini.SomasundaramGnanasundari@thomsonreuters.com))