This just becomes another subsidy. IMO, we need to build a large supply of tiny but high quality apartments (good sound insulation etc.) in good locations so the market will lower their value yet there still expensive enough to attract young workers instead of the poor. (~350sf)

The other reasonable approach is simply to build lot's of housing in good locations. If the supply is large enough prices end up falling. Unfortunately, larger apartments mean taller buildings which pushes up prices.

Instead of the current approach where all apartments are basically the same thing and the only thing that drives down prices is poor location, maintenance, and older buildings.