It only works though if income distribution is somewhat sane and people actually buy the housing to live or for renting out. The issue is that a small part of t

It only works though if income distribution is somewhat sane and people actually buy the housing to live or for renting out. The issue is that a small part of the population is so rich that they can afford many apartments/houses without living in them or renting them out. Those individuals have often enough market weight that they can distort the market all by themselves. Creating an arbitrary shortage to drive up prices for example