Corporate greed at it's finest.

This was the nightly rate in Phoenix yesterday. Abnb, Trulia and other online RE platforms have a hoard of purchased properties to capitalize on this market. Never seen it this bad.

I noticed that around here for sure! Decent first time homes in nice neighborhoods get sucked up by investors, who then charge rents that are too high for young people starting out. It is making first time home ownership very expensive, due to having to outbid deep pocket investors.

Corporate investors at that. People do have some knowledge that in the last year there has been an extraordinary transfer of wealth from the have's to have nots. This is one of the main areas this has happened.
It is very sad, former working class suburbs are becoming rental estates. The average price in Sydney for a house is getting close to a million now, out of reach for most young who now work casual/ part time so are unable to borrow. Not to mention rents eat up a majority of pay packets so difficult to save a deposit.
Corporations/ non human entities should be unable to invest in suburban housing would help; talking homes. And people should be limited in what they may purchase. Something has to change.

Add to that the rising interest rates and one can guarantee that part of the economy will slump. That is the Republican plan: Republican owned corporations raise prices creating inflation and economic slowdown (then blame it on Biden), and then Republican operatives in the Federal Reserve raise interest rates to also knee-cap the economy (and then blame that on Biden).