So you are saying 80% of homes aren't lived in? I don't believe you, there is no way those numbers are anywhere close to accurate.

No a good portion of them are turned into rentals controlled by a few.

The demand will not go down. The supply always lags behind, and can face hurdles to build, for example - renters are generally not present in city politics.

The supply then use price controlling algorithms to slowly increase and extract the wealth and income of the renters.