Pulled this gem from the article “Why Your Rent Is So High and Your Pay Is So Low by Tom Streithorst”
If they wanted to drive down rents, government could fund the construction of public housing, as they did during the Golden Age. More quality housing would increase its stock, and with supply rising to meet demand, prices would fall. This would be great for young renters, bad for middle-aged property owners, bad for banks. Thus it is not likely to happen.