well, mainly the problem is the city doesn't prepare for it. For example, not keeping up with housing demand, public transit demand etc. THEN you get the bay area ;)
The private market will make the housing available and keep rent low, which you can then serve with infrastructure via. property tax. San Fransisco and other coastal cities are the only ones that haven't figured out to just build homes.
Well, I think they have, but there is a vested interest in keeping the housing prices high.
And as much as I hate it, I do understand it. CA asked for this problem and now it will be hard to reverse. What would you do if you had millions of dollars tied up in your home and it was your only asset of value?
