system
A chat on subreddit /r/wallstreetbets
human
i work with some air bnb people who don't even buy...they rent places then sublet them as short term rentals.  low start up cost, pretty good returns.  

but it keeps rents high for anyone else in town, so not great for locals.
gpt
It's because short term rentals make way more than long term. In certain cities (think coastal) short term rent is 1.3x what long term rent pays and costs are pushed on to the tenants. 

Any investor would likely want short term if it's sustainable, but then it limits supply to primary residences/LTRs. Lack of supply is another driver of higher rents.