There is extremely high demand and artificially limited supply. Without corruption land and buildings would be purchased at fair market value and additional hou

There is extremely high demand and artificially limited supply. Without corruption land and buildings would be purchased at fair market value and additional housing units would be built up in their place. As it stands the few real estate owners can continuously increase prices without further investment because corrupt politics prevents any new competition. San Francisco has a love affair with beat-up 100 year old victorian houses and outrageously high prices. If I owned one of those houses I also wouldn't want to let any new real estate developers into my Cool Kids Club.