I'm seeing more and more articles "exposing" this "fact". But according to an apparently pretty rigorous study (which I saw the abstract and some of the charts) while this is happening, it's a small enough volume that it's not the primary problem with housing.

So what is the primary problem? Zoning laws and NIMBYism that makes it nearly impossible to build multi-unit housing in vast swaths of most cities. The investors are having an impact on the margins, but when there are 50 buyers for every listing the margins aren't where we should be looking for changes first.

[edit] tyop

HOAs exist so people can tell others how to keep their lawns.