It also doesn't help adding close to 3 million people in a year to the domestic population (not through births or official visa process), during a time of rising construction costs, and not expecting that to cause an affordability and availability crisis on the lower ends of the market. It's not a problem for wine/microbrew drinking political commentators who aren't competing for finite low skill employment opportunities and lower cost housing, but their feigned altruism has an obvious second order effect for working class.
It reduces border. It is much harder to become stereotypical homeless if rental prices are lower.
If you outlaw housing space for poorer people, then they are at much higher risk of becoming hopelessly homeless.