The current economic trickle-up system is starting to cause serious problems. Large sections of populations everywhere are increasingly shut out of the capitalist system because they do not have ANY access to capital.
But they fixed housing. A decade or so after they were built and things became somewhat stable around them.
The problem with tax, and any kind of economic system is very simple. Capitalism and communism, and the more creative options like mercantilism or militarism, we can argue about them for a long time, but fundamentally they divide up existing properties. Nothing more. We can use these systems to choose WHO is homeless, but they cannot lower the number of homeless.
Also many Western cities have very high numbers of homes that are vacant. Seems like a tax on that behaviour would be hard to argue about?
Post WW2 in the UK the gov't built a lot of social housing that was successful. Sure there were some failures too (eg tower blocks), but I believe those were built much later.