Yes, I'm really disappointed to see so many other comments here that misidentify this fundamental problem. Investors are only interested in housing now because

Yes, I'm really disappointed to see so many other comments here that misidentify this fundamental problem. Investors are only interested in housing now because prices were already rising thanks to constraints on building due to zoning. These investors aren't the ones making the prices higher (or they weren't initially, at least); they're responding to conditions that were already making prices higher, which makes their investment more attractive. But you don't have to take my word for it; it's literally what they say in their prospectuses: https://mobile.twitter.com/mattyglesias/status/1482762838074699785 https://mobile.twitter.com/mattyglesias/status/1482762838074... Everybody has their favorite group that's easy to hate in this space -- it's the vacant investment properties, or the foreign investors, or the REITs, or the rich people with vacation homes -- but those are tiny factors relative to the main driver of this, which is your typical one-house-occupying all-American homeowner who opposes any new housing in their neighborhood.