Yes part of the problem is the "invisible" part which is more about what policy changes get enacted that wouldn't be if investors weren't part of market? Or what potential regulations -- that might be in the majority's interest -- are not being enacted...

Like, there's legitimate reasons to believe that real estate is as f*cked here in Canada as it is because a large % of members of parliament are either landlords or closely associated with them or at least feel beholden to the property market and realtors as a constituency. Policies which punish housing market inflation are simply inconceivable to them because of their intrinsic biases. Regardless of whether they themselves are "cashing in", or whether they're doing better than the average real estate owner, they still don't represent the general public

Or, put it another way: the foxes are in charge of the hen house.