I can understand their concern.
In the North West of the UK, there is a very desirable area known as the Lake District, and in the largest town Keswick (and surrounding areas) the houses are being bought up as "holiday homes" by wealthy Southerners.
This has pushed the prices up to the extent that owned housing is now out of the reach of young locals trying to get their first house, and they either have to rent, (at inflated prices), or move to a different location, which is not really acceptable.