>It's sort of an interesting tradeoff. On one hand, it's not desirable for most people to rent longterm, and owning property is an important way to store and grow wealth. On the other hand, you don't want a few well financed investors sweeping in and buying all the available housing just as a kind of depository for funds.

Wouldn't it also disincentivize people from lobbying for zoning laws that are only beneficial to homeowners?