I don't live in the bay area and never will. I only travel there for work sometimes. I think it hurts non-homeowning residents because it eliminates a powerful

I don't live in the bay area and never will. I only travel there for work sometimes. I think it hurts non-homeowning residents because it eliminates a powerful incentive for densification. Where I live, homes are taxed as if they were developed to their maximum zoned potential. This motivates people to move out of single-family homes so they can be redeveloped into higher density and add much-needed supply to the market. It's true that the homeowner is worse off, but society does not function unless we prioritize the needs of the many over the few. IMHO. Also, the homeowners usually make an incredible amount of money selling homes that they bought for nearly nothing, so they get some compensation for the trauma of having to move.