> What you actually have to do is line up every potential purchase of a home (which may be more than one per buyer) in the city by any person in the world in th

> What you actually have to do is line up every potential purchase of a home (which may be more than one per buyer) in the city by any person in the world in that order. This is an excellent point. People who point to “basic supply and demand economics” often leave out the concept of price elasticity, also a basic economics 101 concept. It can mean that under extreme demand, building supply won’t actually move the price much. Unlike the first dotcom boom which was spread all down the peninsula, this one is highly centered on SF in terms of where talent wants to live. It’s the heart of an industry that is creating some of the most valuable companies in the world. Lots of people making six figures who would move to SF if only it was more affordable for them. So many companies that would open SF campus if only if was affordable, for them. That’s a ton of demand, regionally, nationally, worldwide. All that needs to be satiated before prices come down to what working class folks can afford — if developers decide to keep building, that is.