What policies/zoning regulations are you suggesting? Prohibiting people from reselling their homes? How does that lower rents? How does that curb real estate developer profits? Developers make money by BUILDING. That’s why they’re called developers. Or are you saying your zoning regulations would prevent developers from buying up vacant/low density lots and turning them into larger developments? In which case, how does that make housing costs cheaper?
There are approximately 25k households in the neighborhood that I live in. Developers are building like crazy here and an additional 4k housing units are slated for completion within the next 12 months. Increasing the total housing stock by 16% in a year is nuts. Sure, almost all of it is class A “luxury” apartments, but there are only so many yuppies and spoiled kids here and they’re building EVERYWHERE in the city.
If you want to lower profits, increase the supply. That means relaxing permitting and zoning regulations to allow developers to build as many housing units as they want.