If you take things away from rich people by force (and by things I mean an empty apartment that serves no purpose other than to gain in value), those same rich people will levy armies against you to reclaim what they lost.

If you undermine what they have by building more, it’s harder for them to justify waging war with you as no capital theft has taken place. All that they might experience is a slight deflationary force that might encourage them to rent out what they have at at a fair market value in order to keep up with the newer alternatives