So there is this hell hole called china that liberalized in the 70s through to 2013. There was a yuuge amount of economic growth.
Smart chinese understood that "politics" is sleeping but could wake up and they might be on the wrong side of it.
So they took as much money as they could and fled china to places like australia and canada, and even the UK. They took the money and put it into property there. A place where the goverment of china cant "steal" it back.
The goverments of those places enjoyed and welcomed the money coming in.
The US had the japanese buying up a shit ton of stuff only for their bubble to pop and they had to sell it.
As others have pointed out we can reduce the price of homes if we increase supply while reducing demand, aka kicking the illegals out.
Blacksonte (not blackrock) has a company called inventation homes that owns about 100,000 SFH
Most big buisness land lords are REITS that own city block sized complexes because again economies of scale