That's because housing is only ever built so it can be sold to landlords to charge rent.

And the problem with that theory is, it's wrong.

First, plenty of luxury housing is built to sell to rich people. The rich people move into the luxury housing, and sell their posh housing to well-to-do workers. They move into the posh housing and sell their nice housing to working professionals. Who sell their run-down housing to poor workers. Who will, under this system, either sell their crap housing to the destitute or just give it to the government to avoid the new taxes.

And second, housing is the government's job to provide. Private capital should not be responsible for building the housing. Housing is a human right, so the govenment should be building it. We shouldn't trust markets to distribute resources people need to live. Markets are okay for, like, video games and shit... but we shouldn't trust markets with human rights.