Since we're on HN I guess it's safe to assume that you live in the general Bay area, and probably have for most or all of your life, which is only relevant in t

Since we're on HN I guess it's safe to assume that you live in the general Bay area, and probably have for most or all of your life, which is only relevant in that if true it's a location which is particularly prone to problematic housing policy and not much else in the way of housing supply (from what I can tell?). However the view that policy is the only issue to housing just isn't appropriate in many places outside of SF and Singapore is actually a very good example (as is London to a certain degree, expanding inland burroughs notwithstanding): you only have so much space on which to build housing, but the population is variable. If we take the available housing space to be the supply and the population requiring housing to be the demand, you have a textbook case of economic inelasticity. In Singapore they have ironically solved this with policy, as opposed to exacerbating it, and since this was planned early in the country's developmental phase as an economic policy I can assume they understood this problem as economic one very early on.