My area there are no long term tourists. The rents are crazy still much more to rent than to pay a mortgage with owning a property. Glad I own and pay a mortgage. I rented for quite some time but could only lock in for one year at a time and almost every year it went up some. The 20% is a crazy increase though. Some buy property to turn around and rent it because there's money opportunity there. I tell you across the street their is a family that rents a house and they pay double what I pay and the layout is basically the same. It's no wonder why there are many rich people in RE.