I'm glad they aren't just buying up existing housing stock. We have a housing shortage, and subsidizing demand will just further send prices up for everyone else. Net new housing, even if more expensive, will do far more good overall.
I'm all for net new housing. And I think we should green-light new residential projects faster. But telling currently homeless people to _wait_ for new projects to be planned and built, when there's already a glut of vacant condos struggling to sell seems cruel. I'm not saying the city needs to bid aggressively -- but when the market slows down, why not get a deal?