The law specifically targets New York City homeowners in apartment buildings who advertise their properties, or even just a spare room in their homes, to rent for less than 30 days at a time.

It's important to note that New York already passed a law a few years ago making it illegal to rent your home out to short-term tenants.

This new law makes it illegal to ADVERTISE… which is basically pre-crime.

Now you don't even need to commit the egregiously criminal act of renting out your home to a nightly traveler.

Simply informing the public that you're thinking about it is enough to get slammed with a major fine.

Violations carry a penalty of up to $7,500, dramatically higher than New York's penalty for reckless driving (up to $300) and even higher than the fine for driving while intoxicated (between $500 and $5,000).

I'm sure we can all sleep more soundly tonight knowing that the courageous politicians of New York are keeping the streets safe from nefarious criminal terrorists trying to earn a few extra bucks from their own private properties.

It's ironic that New York City already has one of the highest hotel occupancy rates in the world, in excess of 90% in some parts of the city like Times Square.

(Which makes New York one of the only places in the world where a 2-star fleabag like the Comfort Inn can command rates between $249 and $429/night.)

So websites like Airbnb fill an obvious market need.

Last year alone, Airbnb generated $451 million for New York City property owners who rented their apartments or spare rooms to short-term travelers.