Surprisingly balanced take on such a contentious issue. Thanks for sharing.

I mean homeownership (with the intent to occupy the home yourself) causes this misallocation by itself. The proper policy remedy would be to prohibit people from owning their own home until it was a very small portion of their net worth.

I think this policy has been crafted in a lab to have both very few financial losers and yet make literally everyone mad.

High willingness to pay is not "best use" because money is worth more to some people than to other people.