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Because the alternative is to be homeless.
Or leave the area for lower prices somewhere else.
So quit your job and pay hundreds, maybe even thousands, of dollars to move somewhere different where you no longer have a source of income and don't know anyone?
I'm not saying I like it, that's just how it is. As a consumer of housing, like anything else, when you can't afford what you want you have to get something less.
No, this is not how it is. In order to rent an apartment you have to show proof of income, and people who can't afford a studio apartment where they live also cannot afford to move. What you are suggesting is literally not possible. You might as well tell someone to grow wings and make a nest in the clouds.
You can't afford steak, you eat chicken, you can't afford that, you eat beans. You can't afford that, you're in trouble.
I didn't create the system, man. I get it, it's hell to be poor. But corporations buying and flipping homes doesn't have much to do with the plight of people who can't afford studio apartments. If somebody else is ready to pay a higher rent than you are for the same apartment, they're gonna get it. Doesn't matter whether the landlord is a friendly grandma or a faceless megacorp, nobody is gonna willingly sell something for less.