At least in the U.S., you'll also need to replace the system of local governments being mostly funded by local property taxes. That results in local government (and the residents who elect it, and whose taxes fund it) being very strongly in favor of high-end residential development (ideal - a gated neighborhood of mansions, or a luxury skyscraper, with absentee owners), and very strongly against low-end residential development (worst case - a mobile home park). Vacant mansions will pay very heavy taxes, require minimal city services, and generally push up property values (good for all those already aboard the property ownership pyramid scheme). Mobile home parks will do quite the opposite.