Taxing the rich would work if you want to redistribute wealth in general. But this is a very specific effect you are after: the wealthy spending less on housin

Taxing the rich would work if you want to redistribute wealth in general. But this is a very specific effect you are after: the wealthy spending less on housing. That is to say, suppose there is a wealthy person and they are choosing between a new yacht and a new house, you want this policy to very specifically move them from the house to the yacht because of the scarce land.