Renovations may well be occurring, but residential housing is scarce, and housing density is low at least in part on account of zoning limitations on building h

Renovations may well be occurring, but residential housing is scarce, and housing density is low at least in part on account of zoning limitations on building height. San Francisco is unwilling to build up. The high housing costs are a sign that the region's significance has outgrown its supply of housing stock, which will naturally send folks looking elsewhere.