It's a bold move but considering the insane house prices and fact that many Americans slave all year just to pad landlords coffers the situation merits drastic actions. So just do the following:
– Let a single family own 1 additional property which must exclusively be used for rental purposes, no vacation homes. This opens up room for people who want to rent and also ensures that each rental property receives proper care (as opposed to negligent, exploitative slum lords)
– No foreigner ownership unless its a primary residence
– No corporate ownership of residential unless they're building to sell
That's it. Vacation homes are nice but when 90% of e.g. NYC can't afford a rat nest then that's just the priority. The rich got way too greedy and ruined it for most of the population, so luxuries need to be set aside.
And to those about to post some BS about materials costs or supply / demand, only 65% of US homes are owner occupied. Flood the market with that inventory and prices are taking a swan dive