I find responses like this fairly patronizing. I think it’s preferable to not respond at all or substitute a link to an article like Kim Mai’s (in)famous TechCrunch piece instead of this veritable shrug.

Edit: After seeing your profile, I feel even more disappointed. Imagine if a Lambda School student asked a plausibly sincere question and they were met with a response which amounted to, “That is so stupid, I don’t even know where to start.” Let’s strive for better.

Start with the early 70s. The housing problem started around then. Some years they went up by 20-30% in value. My parents were on track to lose their relatively modest 1800 square foot house in San Jose just 6 years after moving there despite being dual income tech workers at the time.

Note that it predates prop 13, so I hope that doesn't play a central role in this enormous mountain of evidence.