No one wants to get into/further into the business as long as blue states are enacting “good cause eviction” laws that make it all but impossible to remove bad tenants.
Those laws were the predictable extension of tenant- and squatter-friendly policies hastily and exuberantly put in place early on during the pandemic, left in place to maximize the deleterious effect on all owners/landlords, meaning, not merely the stereotypically nasty ones everyone would like to see get their comeuppance.