All the poor fuckers who don’t have a house aren’t going to have the government find them one and hand them to it. Replacing 5% of the single family homes would cost about 2T given that houses aren’t worth the same, the unit replacement cost on rich kids houses is going to 2-3x the cost of an average house AND the fancy real estate’s propensity to be situated near water in what will be future flood plains the majority of that money will go to those who already have the most advantages.
Conversely if those people aren’t absolute morons those properties are absolutely saleable at this point irrespective of it being expensive to purchase insurance. If your property is bound for the bottom in 20 years sell it now while people aren’t too cognizant of this issue before your fortunes go down with the ship.