No, you are misreading or misrepresenting what the article says. The measure is meant to stop houses that are meant for people to purchase and live in to be bought by investors to rent them out. The reason for that is that those investors are reducing the supply houses available for purchase, and driving the prices up.

Rental homes are still available for rent. Nothing changes there. The city invests a lot in affordable rental houses. That's not going to change. They just want to stop investors and speculators from snatching up the available houses.