I support this. The purpose of a home is for people who live in the area to live in, not to be a speculative investment.
This is part of the reason we have a housing shortage in the US: 20% of available homes are purchased by investors, which squeezes the supply.
Airbnb has made this worse. There are areas near me where during the COVID ZIRP, people snatched up like 70% of the homes to turn into rentals. Those places are now ghost towns, unless it's Memorial Day weekend.
This is part of the reason we have a housing shortage in the US: 20% of available homes are purchased by investors, which squeezes the supply.
Airbnb has made this worse. There are areas near me where during the COVID ZIRP, people snatched up like 70% of the homes to turn into rentals. Those places are now ghost towns, unless it's Memorial Day weekend.