Read the username again, it's much worse than that
Be that as it may, Britain in the 1970s and before actually had a really good answer to this: The government just buys enough property and rents it out to people at reasonable rates, to puncture the bubble and make it unprofitable to be a landlord in the first place as a "job." People have affordable places to live, we don't have to have a fight about declaring it "illegal" to own or rent out property, and people with spare cash are motivated to invest it in businesses instead of in properties. Literally everyone wins. Which of course, means America will see it as communism and fight to the death to stop it from happening.
Not saying you're wrong in your solution either, just saying one other way which has a proven track record.