I live in Long Island and everyday I hear of someone else say "I'm leaving this highly taxed place" for areas with lower property tax like the North & South Carolina, Georgia, Florida, etc. but there's still such a shortage of houses around here.

That being said if you have less buyers in the market it might increase the market day supply of inventory.I expect this to affect the high end market whose purchase is often tied to asset base or confidence of their assets but may even increase the housing shortage with starter homes.Not financial advice just how I’m being mindful in my own business

There is a big shortage in reasonably price multi family properties in my area.

What I'm trying to say is there is no shortage & some on us really like working with investors.

This is especially true in the current market where there is a shortage nationally and you are paying to dollar for labor and materials.

The truth is there's a shortage of affordable housing in most counties.

In Washington we have a major shortage of inventory which equates to strong demand and higher prices. 

.; nationwide, prices rose 5.1%.In December, a National Association of Realtors study listed the Springs as one of the 10 housing markets that will outperform the rest of the nation over the next three to five years.Also that month, a forecast by Realtor.com, the California-based online real estate service, ranked the city as No. 7 among the nation’s Top 10 housing markets for 2020.That shortage of homes for sale — an issue many cities face — has combined with the furious demand to help propel housing costs.

If you haven't already, check out https://www.biggerpockets.com/… - there's certainly no shortage of events in the DMV area!  

Some of the small towns in the area do have a shortage of housing, so you may have an easy time renting it (Digikey keeps growing, commuting to GF continues to be cheap), but this seems like a less-than ideal situation if you were to purchase it.