Vacancy rates are misleading and includes things like being unoccupied briefly between owners or houses that are unlivable in areas with no buyers. The number o

Vacancy rates are misleading and includes things like being unoccupied briefly between owners or houses that are unlivable in areas with no buyers. The number of homes where people want them is quite low, there is simply a shortage. Houses as an asset is a major contributor for sure. It's long been a rival to stocks or exceeded it as an investment and makes a powerful political base. But it also includes a lot of people who view their primary residence as one and aren't landlording other properties. It's hard to find solutions to this that are politically and socially viable. To create more homes requires capital and doing so will lower the value of existing assets. I think people reach for easy solutions because they don't want to face some deep contradictions in our way of life.