I look at the closing paragraph: Perhaps decades from now, we will be able to tell a similar story about housing. Today, New York City’s rental market is defined by two colliding forces: tenants’ need for affordable rents, and landlords’ need to repay their creditors. Only public ownership offers an escape from the mounting pressure. If New York moves towards a model of social housing, it will be because public ownership is consistent with stable rents in a way that ownership by private investors fundamentally is not.

They forget that replacing the landlords with political figures just brings in another colliding force. Politics. Politicians. Human greed is still there, but now you've added a layer of bureaucracy and taken away any incentives to actually be cost or time efficient. Not to mention that every politician from that day on will run on reducing rent or whatever they think will "buy" them votes.