Other people who experience massive and profound benefits: Californians who get homes to live in. If you want to punish investors and hedge funds, there are ways to do so that don't involve banning housing construction.
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I know it's not monolithic, but to deny that there is a corporate real estate industry and developer industry that's pushing this agenda is disingenuous.
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apartment owners like scarcity -- enables them to charge more rent without doing any extra work. Real estate developers want to build. Different entities have different interests & agendas.
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People know how to do that. Look at 2008. The problem is figuring out how to get the system to dial back its enoblement of the wealthy.
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