Puerto Rico, a vibrant island territory of the United States, faces a complex challenge: a shortage of affordable housing. This issue has intensified in recent years, fueled by two factors: Act 22 and the rise of Airbnb rentals. Let’s delve into how these seemingly disparate forces are contributing to the housing crisis in Puerto Rico. Act 22: A Double-Edged Sword Act 22, also known as Act 60, is an economic development program designed to attract investors and entrepreneurs to Puerto Rico. The program offers significant tax breaks to individuals who…
Read MoreParadise Lost? Act 22, Airbnbs, and the Struggle for Affordable Housing in Puerto Rico
