I've never seen a single example of this idea working.

I've seen this idea lead to higher rents, with fewer people owning and more people renting.

I've seen it lead to developer hand-outs in the name of tax incentives, zoning variances, and outright grants for subsidized (but still rental) housing.

I've seen it overload local infrastructure, allowing developers to reap the profits while externalizing the costs.

We need to address the root cause -- ever-growing income inequality -- not exacerbate the root cause by building an ever-higher wall between individuals and home ownership.