There is no American “housing crisis”— there’s a supply-hoarding crisis to rig local market prices above the liquidity of local buyer capital. 

The policy solution is simple: poison-pill tax all non-occupant-owned housing to force immediate sale to local buyers at actual market rates.

Allowing unlimited non-local capital to supply-hoard vacant housing is simply anti-resident eugenics. Current residents are too poor, so replace them with richer ones— even if it causes widespread homelessness, forced migration and absurd energy costs for the displaced to commute. It’s as discriminatory as Federal Housing Administration redlining of black neighborhoods in the 1940s.

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no that's only half the story. if you go to Florida, for example, there isn't enough housing to go around. builders can't build fast enough. and that comes down to regulations. often what happens is that existing neighborhoods don't want new housing so they regulate housing out of the market

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Florida is also a top speculation/investment real estate market. how many sit empty?

And then there’s this:

https://gothamist.com/news/a-wealthy-nj-town-is-resisting-affordable-housing-plans-its-defiance-could-be-costly