Not to more and more people.
Lot of people bought into owning houses as rentals, and a lot of investment bastards did too.
The other thing that has really driven up real estate prices in many residential areas is nightly rentals. Air B&B and VROB.
Any place within walking distance to the ocean is now worth based on what you can rent it for during the “season”.
Same goes for places in Palm Springs or any other vacation rental area.
Six years ago a buddy bought a house in York Beach, ME. It was brand new. Just a three bedroom house. About 1800 sq ft. It is a five minute walk to the ocean. He rents it for the whole summer. The income from the summer rental more than pays the mortgage/taxes the rest of the year.
During the summer he and his family switch between a trailer/camper on a lake and a condo.