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Endus beat me to it. Yes, this government implementing laws and I would still say they can fund building construction is how you build housing.
The government is slow and cumbersome compared to the private companies not building
no housing at all? The private sector is deliberately not building housing now to drive up home sale value. Worse of all landlords sit on unoccupied places since they can drive up rent and likely benefit from some tax incentive where they probably don't lost money on keeping it open.
Also you bring up money when this a cost that benefits people just like any other government program.
Urban areas would actually be waaaaay more cheaper and I will say "fuck building suburban housing". Super efficient of buying/building a place in a dense area where tax dollars spending on infrastructure would be cheaper. Then You Know, packing a 100 tax payers in 1 acres say is better than 1 person in 1 acre suburban home.
/Urbanist rant
You don't even know what Vienna social housing is do you?
Simply all this is government housing where the rent is fixed for people. If people know they have a relatively cheap and fixed cost on their rent how much that helps them economically?
So yes this can work in the US if You Know, you don't have effin Neo-Liberalism.