But once prices decrease people priced out come into the market. The prices won’t drop if there continues to be demand in excess of supply below the current mar

But once prices decrease people priced out come into the market. The prices won’t drop if there continues to be demand in excess of supply below the current market price. The $3k price you mention is equilibrium, if it drops then more people want units than exist as units because now it’s become affordable, so prices go back up to $3k. Ultimately though, this is the affordable housing problem - the prices are so high all those who want to live in sf can’t afford to live in sf. You made my point for me in fact - even if you make high density housing you don’t make it affordable. The only way to make it affordable is to make it unnecessary to live in SF by unlocking SF employment anywhere.