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The consequences of that would be tens (hundreds?) of thousands of people like me quickly losing their place to live. Lots of people can only afford to live right now because they're fortunate enough to know somebody with a second place which they can rent at below market rates. Most of the neighborhood I live in was bought and built in the late 80s, and is now the de facto retirement plan for dozens of military members who bought these places. No one idea fixes anything entirely, but I think the zoning ideas are the most widely and quickly effective, without destroying lives of average people.
The reverse would actually happen.
Home prices without corporate/wealthy investments would quickly fall due to the increase in supply and a decrease in the purchasing power of the average buyer. They would eventually stabilize at prices that people like you could afford.
Rent for multi-unit buildings would also fall as more renters could afford to buy a home.
Those who purchased homes as rental units would still be able to recoup most of their investment by selling the place. They could then invest somewhere that is not hoarding resources and causing other people to suffer.
You wouldn't lose your place to live. Your place to live would become for sale on the open market for someone like you to buy, and if tens (hundreds?) of thousands of those places went up for sale at once then someone like you could afford to buy it. Having necessary housing for other humans be a retirement plan is kinda fucked up.