I'd rather radically reduce building restrictions and crash the housing market so more people can find adorable housing and this houses stop being good cash sinks.
How about massive social housing projects that provide high quality affordable housing to anyone who wants it? I'm sick of living in over-priced rentals that are hideous, cookie-cutter, stacked, shoe boxes, all built shoddily in a rush, filled with the same terrible finishings and appliances and never maintained by their owners/management. Force these investors to do a decent job by making them compete with actually good and reasonably-priced alternatives.