Clearly, I disagree with almost everything you've said here, Michael.
More than 100+M Americans are rent trapped, and that number is growing by thousands per day. You seem to be purposefully ignoring the growth in institutional land-lording and property hoarding.
Investor land-lorders do not "support" the housing market-- they monopolize property in order to extract usury from the contributor class. The plan isn't to let them raise rents to offset the new tax-- it's to get rid of for-profit rent-seeking entirely.
Open your mid and dream with us! Working families can no longer afford to support the parasite class.