I also doubt it leads to increased supply of housing useful to locals in the same way as building hotels generally doesn't. If that's the case, then building n

I also doubt it leads to increased supply of housing useful to locals in the same way as building hotels generally doesn't. If that's the case, then building nice residential areas outside the touristic core which are useful to locals will not result in a horde of tourists AirBnBing those areas. I think at this point it's important to note that the core issue here is that in most areas locals pass dumb protectionist laws against new construction, making it impossible for supply to increase. I agree with you that when demand for a good increases the price of that good, the people who were previously enjoying lower prices might be unhappy. That doesn't mean the original purchasers of that good have some right to prevent new people from purchasing it.