Housing is a different kettle. Housing prices are driven, by and large, by competitive consumption. New houses (or housing) can be built, of course, and frequently are. The demand is not inelastic unless, for a reason I cannot think of, development is frozen when people are forced to move. In other places perfectly good houses are being torn down due to population movements. Workforces are mobile and I'm a big big fan of encouraging mobility. Don't pay people to live in impoverished areas when they can move to North Dakoda and work in the oil patch. I'm sorry you grew up in Detroit. Get over it and move. Your ancestories didn't stay where they were. That is how Detroit came into existence.
Property ownership is an absolute essential component of a free liberal society (classical liberalism, I know how that word has been hijacked).
Now, we do provide homes for the "homeless". We do this as charitable/compassionate activity for a select few (as with food and clothing). But, let us not confuse helping the poor with structures for delivering the essentials of life to the entire citizenry.