We'd have a lot of empty houses and maybe cheaper houses.
Look. Personally, I love renting. Its fleksible.i can move whenever i want to and not think about selling. Also i can live in places where houses are practically unsellable and not worry that I can't sell once I want to live somewhere else
Also, I don't have to worry about repairing and maintaining the house. If I window breaks, I call the landlord. If a pipe breaks a leak, I call the landlord. For me, renting is great!