No, I want to crash the price of real estate, bankrupt the incumbents, and realign incentives to be focused on resident quality of life.

Percentage return on investment has nothing to do with the basis. Investors will have to serve a lot more people to get the same absolute return. The percentage return won't change all that much for actually building and operating. The year over year growth in valuation and rent is what needs to go (buildings go through several sets of hands over the first decade or so anyway).