Price is determined by both the characteristics of the unit and the characteristics of the market. This is why units that are not at all luxurious by national s

Price is determined by both the characteristics of the unit and the characteristics of the market. This is why units that are not at all luxurious by national standards can rent for $3500 in San Francisco, and why luxury high-rise apartments can rent for $1800 in Chicago. It’s true that developers target the top of the market. The point is that, when they do it at scale, supply/demand balance brings the top of the market a lot lower. Possibly even lower than the bottom of the market in SF today. And they will do it at scale, unlike public housing. The market has successfully provided nearly every home that exists in every affordable market today. You’re probably right that it won’t solve homelessness, because many homeless people would not be able to hold a job and pay rent at any price level.