the issue isn't just yield-seeking corps, it's opaque shell companies (llc) using real estate as a store of value aka money laundering vehicle. vancouver showed how this decouples prices from local wages completely. the us has this exact vulnerability—anonymous delaware/wyoming llcs buying in cash, specifically in supply-constrained cities like ny or miami.

this only works because of zoning. if nimbys didn't artificially cap supply, housing would be a depreciating consumer good (like in Japan) rather than a deflation-proof asset class. zoning is what turns a house into a safe deposit box for offshore capital.

if the corporate transparency act that Trump vetoed is successful then I expect to see the real estate become US's top source of GDP like it is for Canada.

I also have no idea what statutory authority he has to enforce this. Surely it requires Congress or at least the FTC chair. And if there's enough vested opposition it's going to be challenged in court pretty quickly.