'Competition' is about competing for the available housing. If there's less housing, because of zoning laws and NIMBYism, the competition will be fiercer and p

'Competition' is about competing for the available housing. If there's less housing, because of zoning laws and NIMBYism, the competition will be fiercer and prices higher. No one is saying that San Fran will ever be dirt cheap, just that it could be a lot cheaper if the market were allowed to function there.