I think amount of renters would rapidly drop off.

I agree. Some to ownership. Others to homelessness.

It depends on what facilities the country would provide. Assuming it's USA it's homelessness. If it was another country, it might be provided social housing.

Why not skip the taxation and homelessness and just build the social housing?

That's also an option, however, it does not remove enough profits from land ownership rent seeking.

> it does not remove enough profits from land ownership rent seeking

You'd prefer to create excess misery to satisfy a sense of vengeance? Versus just solving the problem?

Land ownership rent seeking creates misery. It should be curbed.

What should people that expect/hope to move soon do?

What should young and poor people who can't afford a down payment do?

rent...

I think /u/carom agrees with you (that renting is the best choice for many), even if they don't realize it.

It's worth considering that some of us want to rent. I've moved for work a few times, so I rented because it wasn't worth the hassle of buying a house, living in it for 2 years, then selling it to move. Some people move to a big city to start a career, with the intentions of moving back towards home when they've cut their teeth.

Having the option to rent is a good thing, being forced to rent when you don't want to is a bad thing. Hopefully we can accommodate both.