Even if we accept the premise that the housing market mysteriously transcends the rules of supply and demand, the pidgeonhole principle is going to come into ef

Even if we accept the premise that the housing market mysteriously transcends the rules of supply and demand, the pidgeonhole principle is going to come into effect. How is San Francisco going to accommodate 5-10 thousand new residents each year when only 2-3 thousand units of housing are added each year. Even if we ignore price, there just isn't enough space unless we build more housing.