And what happens to the 40% (citing GP, not my own data) of renters who are already behind and will now have an eviction on their record? If rent goes down 20% (arbitrary number for sake of discussion), that doesn’t do a lot of good for renters who can’t pay the remaining 80%, or whose next application won’t be approved even if they could.
So, a bunch of people being homeless is good because housing prices will go down?
This seems like a high human cost just so some richer folks can get cheap housing. It's gonna be hard for the folks evicted to take advantage of those low prices, though, and that's who would need them.