[Duwensatzaj]

The empty homes are largely where people don’t want to live.

You have cause and effect completely backwards. Housing has become an investment vehicle BECAUSE it is expensive.

And it is expensive to build because government policies make it expensive to build. Safety codes, building codes making previously common types of housing illegal, environmental reviews, zoning, “affordable housing” requirements, development permit fees and delays.

I’m not saying all of those are bad but they have a cost but the legislators and bureaucrats who impose them don’t have to pay them.