So those who don't have the cash up front or credit to buy a house are SOL, so as migrant workers who made the mistake of looking for a job somewhere in the jurisdiction.
That said, you need very little cash at hand to buy a house in the Netherlands (in fact, a few years back you needed < €0), there’s no upfront payment. Credit is cheap (~2%) and abundant.
The legislation described in TFA is quite literally designed to cut off the introduction of newly built houses in the rental market, including investments in real estate focused on that market segment.
Quite the opposite in fact. TFA is quite clear on how their aim is to stop new housing units to be used for rentals, and they even force an arbitrary process to approve exceptions to the ban by enabling local polititians to approve specific projects they may see as acceptable.
Nevertheless, the goal is quite clear: raise barriers to the introduction of rental properties.
Rental homes are still available for rent. Nothing changes there. The city invests a lot in affordable rental houses. That's not going to change. They just want to stop investors and speculators from snatching up the available houses.
Where I live, to cut down a tree, you can get it approved by council. The problem is, they do not approve any applications.
Not that rent is more affordable though. Most not rent-controlled places require you to have a yearly income of around 50 times the monthly rent, which ensures it's nigh impossible to get any sort of decent place on a single income.
Of course, all of this is near the larger cities. In the countryside, you could probably get the same sort of place for two-thirds the money. However, you'd probably be travelling at least 1.5 hours one-way to your work.