In Europe there are very many successful examples of national housing projects, indeed many countries have large portions of the housing stock in public hands t

In Europe there are very many successful examples of national housing projects, indeed many countries have large portions of the housing stock in public hands to this day. This was generally instituted after WW2, which left the EU housing stock in a far worse condition than the US's today, and left the EU totally impoverished. So, you can come up with hypothetical problems, but practical experience shows it can absolutely work.