You simply tax the things that harm society until those things go away.

Corporations owning residential homes should get taxed an extra 1% on the total value of the home every year, increasing at 2x the rate of inflation every January 1st. Do that for 5 years, then apply the tax to individuals who own more than one home, same deal - 1% + 2x the rate of inflation.

Combined with actual rent controls, this solves the problem, and it won't shock the system and cause a housing crash, because various homes are at different stages of profitability.

I'm just some idiot on the internet. Why can't some idiot in government come up with a similar plan?