Exactly, many people rent because they’re credit constrained - they can’t borrow the lump sum even though they have enough to pay the rent each month.

Banks are shit at supplying houses because they like to protect the (over)value(d) assets of their balance sheet - plus they ration credit inefficiently. (source some papers by joe stiglitz et al).

Council housing / social housing / rent controlled is the thing to fill the gap, the government can borrow againts its much more secure asset and pay the construction workers. Govt should not care about crashing a house price bubble; in fact it should want to - oh hang on . . . govts are controlled by landowners too.

Definately land (ownership) reform needed hopefully to democratise governments at least a wee bit more representative.