Absent from the vast majority of these threads is the critical component in this "crisis":
Property can be purchased and held onto for purely speculative purposes, thereby draining the inventory pool, and raising the cost of housing for residents of the city.
This has been happening in the bay area for a very long time. Wealthy Chinese investors who do not LIVE in the bay area, have purchased an incredible amount of inventory over the last decade and it has remained vacant / unused.
Of course we need more building, that's obvious. But what we also need is to immediately disallow the purchase of land by foreign entities that is not used for habitation. I have yet to hear a constructive argument for why that shouldn't be banned at a constitutional level. Housing may not be a "right" per se, but it's certainly in the communities best interest to use available housing for that communities interest, not the interest of wealthy foreign investors.