Cycling is ten times more important than electric cars for reaching net-zero cities
(theconversation.com)
No, the commute and car ownership is literally cheaper than paying the extra rent.
My mom only charges me $500/month, last I looked rent for places that aren't even comparable to what I have now were about $1500/month, and my car is costing me about $250/month. That's a difference of $750/month, and my quality of life is way better.
What you're suggesting is completely unreasonable for me.
However I admit that my comment about homelessness is likely wrong on further analysis. But it remains to be seen what happens with the housing market in the intervening years.