Does that mean I can buy a more expensive house and get a higher salary to pay for it? If everybody gets that option, then nobody is going to live in cheap housing anymore.

That's great for lifting everybody out of poverty of course, but how is this suddenly possible? Can we maybe give everybody a Basic Income to take care of all the cost of living stuff?

Also, if living in an expensive city doesn't cut into your disposable income, then even more people will want to live in those cities, driving housing prices up even more.

I'm absolutely sympathetic to the equality for all argument, but I suspect there's a reason why this is not how capitalism usually works.