I don’t think this would help if your goal is not rapidly increase housing costs. If covid proved anything about the housing market, it’s that theres a housing shortage everywhere. Plenty of LCoL areas still have disproportionately high housing costs compared to median income now. When remote work was required, people fled cities and led to housing crises in areas that aren’t just major cities.
Great piece from M. Nolan Grey, who is an excellent twitter follow: https://www.theatlantic.com/ideas/archive/2022/08/housing-cr...