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You make good points. And I rarely advocate government interventions, but this situation is something special that could take a long time to clear on its own.

I understand and agree with your concern do we want to have the government become the largest owner of real estate assets. But if those purchases are monetized rather than funded by debt, and if we even stipulate that any rental income received must go to pay back principal on the national debt, these additional government assets would not increase our national indebtedness, but would certainly help to relieve indebtedness of some individuals.

There would be risk of inflation, and that aspect would need to be watched closely. You could start the program off in a very minimal way, so as to run the experiment in a controlled fashion and observe effects on a small scale, before in later years gearing up.
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