Why is New York City cracking down on Airbnb?

Aired: 7/31/2015 | 0:09:50 | Clip
Short-term housing rental industry giant Airbnb now lists more than 1 million rooms available in 192 countries. In New York, the debate over how to regulate short-term rentals is the most contentious. In light of a new report by the NY Attorney General that says nearly three-quarters of Airbnb's listings in the city are technically illegal, the city is cracking down.