No, I'm making an evidenced claim. I have observed this with my own eyes. And you're moving the goalposts.

I'm saying by taking inventory off the market by buying houses and leaving them vacant, investors are contributing to the housing shortage. I'm pretty sure collectively controlling a small percentage of the market, investors can cause an increase in the cost of housing, per the law of supply and demand.

it doesn't take some kind of cabal to do the incentivized thing, plow millions/billions into properties and don't bother with the hassle of renters when the amount they increase is far more than you would have gotten from rent before you flip them.

Vacant houses do not match the behavior of private equity investors. PE will rent out houses and viciously profit maximize at every step.

Vacant homes from "investors" are almost certainly older residents that have moved, or passed away and left it to kids that haven't figured out what to do, or just owners in the area that have locked in low property taxes and don't want to bother with the hassle of renters.

These are precisely the small-time landholders that benefit the most from stopping apartments from being built, because the source of their investment games is entirely from scarcity.

And the cure is precisely to take away their ability to limit housing by building what you call "stack and pack."

Handwave much?

I would like to engage constructively, but I'm not sure what you doubt, and you seem to be holding me to a far different standard than you hold your own comments to.

Here's the behavior of PE firms when it comes to renting houses, they rent them out and charge for everything:

https://www.nytimes.com/2020/03/04/magazine/wall-street-land...

As for the vacancy rates, how do you know the homes are vacant, and what is the proper vacancy rate? These can be looked up in from Census ACS estimates, though I hear that the Post Office sometimes has better data.

I would say that a healthy vacancy rate is at least 7%, possibly higher.

I'm quite familiar both with Vancouver's and Oakland's vacancy taxes, and have endeavored to get them enacted in my town. Not because it will solve any housing problem, but because it's a nice revenue stream for various much needed services, and it eliminates one way that people try to wriggle out of the need to build more homes.

If anything, Vancouver is solid evidence that vacant homes are not the problem, despite so many current homeowners being desperate to use them as an excuse not to build more homes. In Vancouver, the tax provides a small income stream, but has changed nothing at all structurally. And that's in combination with the foreign purchaser tax.

The one solution is to start building what people want, what you derisively call "stack and pack", in sufficient numbers over a long enough period of time to satisfy everyone's desire for housing.

We are not off the mark by 10% in the amount of homes needed in LA or the Bay Area, we are 30%-50% off or more. We have been under building for decades now.