In the Bay Areas case I would put a definite yes. Specifically our city actually has a very normal amount of growth (there are many cities with higher amounts o

In the Bay Areas case I would put a definite yes. Specifically our city actually has a very normal amount of growth (there are many cities with higher amounts of growth that don't have enormous growth in housing prices). We absolutely have enough space for all the demand and induced demand if we raise restrictions of height and density to small European city levels (think Porto or Vienna not NYC or London). As much as we think there's a lot of jobs and growth in SF, it's actually not that high an amount. Also I think you might have the reasoning for why people come here off. I think most people come for jobs. As an engineer the main reason I live in Bay Area is for the jobs, not for the beauty. There are plenty of more affordable beautiful cities, they just lack technology jobs.