no. the potential house buyer has to live somewhere. either they rent or buy. the 150k house buyer pays .5x what the 300k house buyer costs (excluding proportional differences in closing costs). in most markets, i think the 150k house renter pays more than .5x the rent that the 300k house renter pays.
without considering other factors, it makes more sense for the potential occupant of a 150k house to buy than the potential occupant of the 300k house.