There is so much wrong with real estate as a speculative asset. It leads us to create policies to limit housing (because existing owners have their assets increase in value).
The problem with this idea is that money has to come from somewhere. All we're doing is stealing from the next generation. It's a massive wealth transfer from the young to the old and wealthy. Housing is a necessity. It should not be withheld from people for the sake of investment gains.
Homelessness is primarily caused by unaffordable housing. People don't like the externalities this creates but they simply want to move those people away so they don't have to see them when the solution is as simple as giving them housing. Well, not entirely, but that gets you 90% of the way there.
Withholding shelter in the wealthiest nation the Earth has ever seen is unjustifiable state violence.