Old ladies in multi-million dollar homes is largely a myth. Sure, there are some of them. But it's absurd to think this is anywhere near the majority. Short Term rentals make up <2% of the market (almost everywhere beside vacation towns) - and they are not a major cause of problems (outside of vacation towns). Multi-million dollar homes are <1% of the market (basically everywhere). Old ladies living in these homes is a fraction of the total homes.
These are just excuses. These aren't real problems.
The real problem is artificially low interest rates, artificial scarcity caused by NIMBYism, low downpayments (backed by Fannie & Freddie), tax breaks for home owners but not for renters, high income taxes, low property taxes, etc...
The vast majority of homeowners are just everyday regular homeowners, almost twice as many as everyday regular landlords. Little old ladies and short term rental operators make up <3% of the market. You can only blame them for much.
These are just excuses. These aren't real problems.
The real problem is artificially low interest rates, artificial scarcity caused by NIMBYism, low downpayments (backed by Fannie & Freddie), tax breaks for home owners but not for renters, high income taxes, low property taxes, etc...
The vast majority of homeowners are just everyday regular homeowners, almost twice as many as everyday regular landlords. Little old ladies and short term rental operators make up <3% of the market. You can only blame them for much.