That's me in the picture of the hearing. 40 homes there, that have taken years to build because of NIMBY neighbors.

That is the problem. Not Wall Street. Not some xenophobic "foreign buyers!". Not even short term rentals.

It's zoning and NIMBYs and on top of that now, interest rates.

The 'bogeyman' theories feel good because it means you don't have to face up to the reality of your neighors' NIMBYism. But they're wrong. It is your neighbors.

I agree with almost everything you’re saying but I do think short-term rentals and immigration are significant factors on the demand side.

It depends on the market - there are some really tiny destination towns. Moab, Utah, say, where short term rentals are more impactful.