There are absolutely some % of people who are so poor at financial management that they used the last year as a chance to not pay rent and instead buy luxuries. These people have dug themselves a huge hole.
Seems highly unlikely and also fine. If you want to introduce moral arguments, you can dig your own hole.
The income for those renting and not able to make rent regardless of what they save, wouldn't match adjusted price hikes regardless.
Maybe we are in two different ball parks.