It is honestly not. Property ownership is currently the primary method for being able to collateralize small business loans. Without the general populace having access to that, that initial step for starting a new business or pursuing a venture before it is viable for investment becomes VERY difficult to achieve. Especially if it is something that requires a lot of involvement or time to get moving. Once you take out the ability to make a startup or small business, you are left with an ever-dwindling pool of options and end up in a persistent state of monopoly it oligopoly for most goods and services, which in turn leads to an utter stagnation of economic conveyance and growth.

Another way it stagnates economic growth is in the increased expense associated with housing. The actual economy, not the BS we are told is the economy, grows when money moves. Individuals and companies buying goods and services from each other. That only happens with disposable income. If everyone is paying 2x what they would in rent that they would in ownership, that comes out of their disposable income. This leads to less luxury (in an economic sense) purchasing and, in many cases, restricted necessity purchasing. So less money is available to move, which causes the economy to shrink.