What happens in Australia in housing also is happening more or less globally when unlimited "rent seeking" is allowed. People and companies can buy residential properties and then rent them out. With current low interest rates they can run amok and make a lot more than the interest. The Netherlands has a way to deal with this. A landlord tax on rented houses.
https://borgenproject.org/dutch-housing-crisis/
If you buy a house = no tax, rent it out = tax.
This acts to add costs to rent seekers, but real owners do not pay it. They can adjust the tax to the right level to make landlords sell their places.
Many parts of the US have something effectively the same called a Homestead Exemption. You get a discount on your property tax for the house you live in. Any other houses you own pay the full rate. It varies greatly by location and not everywhere has it but it's pretty common.
