The thrust of it is that the federal government would withhold funding to municipalities unless they meet certain home-building targets.
Critics worry that this will accelerate suburban sprawl in order to meet quotas. There are some provisions regarding rental housing and transit infrastructure, but with unrealistic time/budgeting constraints.
Oh, it’s grounded in reality all right. However, his reality doesn’t involve fixing the housing crisis - it will be more about prolonging it to hurt the vulnerable and continue his grift.