Great idea in theory, but there's a reason young people work such long hours: money. If a 22 year old graduates from college and works 25 hours a week, they won't have enough money to pay off their (almost certain) debt and live comfortably, much less have excess money to spend traveling and doing fun things. Young people work so hard so they can have the money to buy and do the things they want. Most just never stop…
Which is to say, if everyone works 25 hours a week, rents will go down (because if they don't, you have most properties sitting empty). If instead everyone works 60 hours a week, rents go up.
Of course, economics is really complicated and rarely works out this simply. But that's the idea. It's a little silly to post here presuming that someone in Mr. Vaupel's position has somehow not thought of the fact that when you work fewer hours your nominal earnings go down. (I think this qualifies for what pg was calling Middlebrow Dismissal). It's a more reasonable response to say, well, of course he has thought of that, but I wonder what the answer is?