When you create a housing shortage-which CA has done via restrictive zoning, other anti-housing measures-you create a boon for existing homeowners & screw anyone trying to rent/buy. Average US home “earned” $7/hr in appreciation but here earned $25-100/hr.https://nyti.ms/2JFRRgq
This is a shocking symptom that could look almost benign to the economically ignorant. Practically, it's the silence before the death knell for young people, new families, small businesses, and non-profits. The bay is on its way to becoming an ultra-upscale retirement community.
