Not so convinced by this. The "evidence" he links to is an opinion piece, not an empirical paper. The anecdotal evidence of prices going up in Toronto despite s

Not so convinced by this. The "evidence" he links to is an opinion piece, not an empirical paper. The anecdotal evidence of prices going up in Toronto despite supply increases is equally unconvincing. For all we know prices would have gone up much more without supply increases. And at the end of the piece he even admits that prices would go down if supply increases were truly large... Well then do it. Build a huge amount. In the case of SF, level SOMA and put up 20 story apartment blocks. What do we have to lose? It's not like SOMA is picturesque.