If your asset appreciates at 25% a year, why would you have it occupied only to make it less appealing?

The author assumes that there is a market solution, but fails to see that we've let the market get to this point.  No rent control for 26 years has lead to near zero rental development, so should we wait another year to study the problem?

If developers are sitting on serviced land, why would you build today?  Wait a year and you can price the same house for 20% more.  Seems like the marked solution is to wait it out.  This doesn't help the citizen that wants to start their life today.