The UK, for example, has significantly more empty homes than homeless people[0]. I don't know the physical distribution of these properties, so purely hypothetically: if the empty properties are in deprived areas of the country that don't have jobs, they might as well be in Montserrat for all the impact they have on the UK housing market in the places with jobs.
[0] exact number depends how you count, this link is obviously trying to do politics so pinch of salt, but it still illustrates the different measures: https://www.actiononemptyhomes.org/news/national-empty-homes...
Bad location, shit quality, low density, small, expensive, leasehold, nothing being built...
We've already had a low birthrates for a while and property prices (where the jobs are) have gone nowhere but up, outpacing Inflation, wage growth and sometimes even the stock market.
Nobody cares the desolate countryside homes are sitting empty because there are no jobs there.