More supply is more supply. It'll probably drive rent down a bit, assuming the plan works. This makes little difference to unemployed homeless people and does nothing to address the fact that many wealthy people see homes as a tool to secure their capital, but it's not nothing. Hopefully it will help some people who are on the brink be a bit more secure in their housing.

[–] AngryCommieKender@lemmy.world 8 points 1 year ago* (last edited 1 year ago)

The corporate landlords will just buy them up and let them sit empty the way they have done with at least 4 highrises that I can think of off the top of my head in downtown San Diego. Sure they have rented some of them, but the majority of those buildings sit empty.

No one can afford rent on luxury apartments