Re. Short-term rentals
Instead of looking at why rental rates are so high, which is clearly a case of supply and demand, perhaps they should look at why so many homeowners have decided to do short-stay rentals in the first place. It's not because they are getting rich from it, that's for sure.
I had a short-term rental for 10 years and there are huge expenses associated with it. My biggest reason for taking that route was I was tired of dealing with tenants always having the upper hand when it came to the rules of the Residential Tenancy Act.
I was the one making the capital investment and taking the risks with tenants, yet at the end of the day, they had all the rights. They still do, and they know it.
Until something shifts to a more fair system, and better considerations are given to (landlords), most are not likely to give up their short-term rentals.
A survey of all the short-term rental owners might be a good start. Ask them what they want (in order) to put their units back into the rental pool.