There's been a ton of expensive development all over Portland. Condos and apartments in desirable areas, none of it affordable except for rich folks. However, h

There's been a ton of expensive development all over Portland. Condos and apartments in desirable areas, none of it affordable except for rich folks. However, housing prices have stabilized here somewhat. Having more options for rich folks in highly desirable areas means less pressure on housing away from those areas. Something like 65% of San Fransisco is zoned for single family housing. Some rich people looking to move there will balk at the prices and then look further out, increasing demand in the surrounding areas. With more dense housing in SF, more rich folks who can afford it can live there. Currently the housing supply is so low (because of the zoning) that it forces most rich folks to look elsewhere.