Venture capital and investment funds have absolutely decimated housing west of the mississippi. Between the model formed after the 2008 crisis of buying up cheap foreclosed houses, air bnbs in 'destination' communities, and covid pointing out where people really want to be when shit gets ugly, some places are like 40% ownership of homes that aren't homes. You can see air bnbs alone on a site called air dna, specifically there to point out investment potential by mapping percentages of short term rentals in an area.
My next door neighbor is one of these assholes that pools investor money and buys up houses to either turn into STRs or just sit on and wait for appreciation.
Prices around reno have doubled in the last 5-6 years.
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value.
