There is a housing shortage because large, often foreign, organizations are buying up all of the housing stock.

Mom & Pop trying to get a couple of AirBnB's ain't helping either.

I'm involved in housing politics where I live. I go to hearings, pay attention to what's coming through the planning department. I see what causes housing to not be built. It's NIMBYs. My neighbors. Not some far-off bogeyman". The reason big companies got into the housing market is because there are good returns, because it's difficult to build housing. Why? NIMBYs. The best way to stick it to the big companies is to build enough housing.

https://www.theatlantic.com/ideas/archive/2023/01/housing-cr...

Institutional investors represent less than 10% of home sales. Even still, they're buying houses because they realize there aren't enough of them. If we had enough houses it wouldn't be profitable for them to buy them.