Completely missing is any mention of the housing supply shortage.
If Bay Area governments had simply gotten out of the way developers would have build more than a million new units of housing over the past 40-50 years. Real home prices would have only have increased slightly due to the increased costs of building up.
Instead we got only a tiny fraction of the housing needed to meet demand and huge rent/price increases resulting the highest cost of living in the world. This is a mad-made problem.
If Bay Area governments had simply gotten out of the way developers would have build more than a million new units of housing over the past 40-50 years. Real home prices would have only have increased slightly due to the increased costs of building up.
Instead we got only a tiny fraction of the housing needed to meet demand and huge rent/price increases resulting the highest cost of living in the world. This is a mad-made problem.