I don’t think the “land/development prices are too high to build a lot” from the developers will hold if 4plex zoning goes through. Land prices for this are hig

I don’t think the “land/development prices are too high to build a lot” from the developers will hold if 4plex zoning goes through. Land prices for this are high because there are extremely few opportunities to do this right now under existing zoning, under the new regime there are many more opportunities so the market tilts a bit from seller power to buyer power. As for construction costs, they suck to build because no one builds these right now so each one is basically bespoke, but if they suddenly become legal you’re going to see a cohort of developer specializing in these, learning how to do them well, and cashing in big time. You see this in other market (Portland) who have made the change already. It seems to be the SF developers are just too brain poisoned from the past entirety of their careers to see that a better world is actually possible.