These people had easier access to loans anyway because of their ability to pay. All the subsidy does is make it a no-brainer when it comes to where to invest their money. People put their money into whatever gives them the best ROI and for the last decade or so that's been real estate. All it does though is drive prices up and the middle class out.
Or building codes restricting things to an arbitrary height, or the fact that the aristocracy still owns the majority of the land in the U.K[0].