Right, its not limited to housing, but since housing is a huge problem financially ( claims usually more than 30% of income, rent or purchase) it would change society drastically.
One could instead focus on distribution of wealth, which would solves some of the financial issues. A bit of a contrarian view, if there was an annual wealth cap say of 50 million per year, this would limit the amount of power an individual can obtain throughout their lifetime. One would change the system of corporations also with a multi ownership basis and limitations of corporate wealth. Distribution of wealth from overflow could be decided upon by the individual. The goal being more wealth distribution over a greater number of individuals.( please keep in mind this is not a thesis, rather a too simplistic thought)
But again this does not benefit the people who are already benefiting from the system now. These same people also tend to be the people hold positions that could change the system.