I am actually in favor of building more housing. But I think that doing so will (on top of prices already being projected to fall) put further downward pressure

I am actually in favor of building more housing. But I think that doing so will (on top of prices already being projected to fall) put further downward pressure on house prices. To think that this is a rosy story for everyone with no losers is a fairy tale. I believe that the already squeezed, non-tech, middle class of the Bay Area will suffer at the expense of new, younger tech workforce (and incidentally play into the hand of the actually wealthy tech leaders who are some of the biggest proponents). If you choose not believe that, then please provide a historical example of where deflationary pressure on house prices have been a boon for the existing working/middle class that own houses anywhere. I realize that this is not a popular opinion among the HN crowd, which obviously skews young and tech, but it certainly is the opinion/anxiety that I hear expressed on the ground in the Bay Area among non-tech families. Are they delusional and should simply welcome lower house prices? Are their wealth and security something that must be sacrificed for the greater good? Maybe. But I am very suspicious of some of the tech leader pushing this. It’s obviously great for them if they can pay their employees less because rent is lower.