Bay Area housing prices up 20% since January, according to new report

I would personally like us to overturn zoning entirely. However, no one has meaningfully unrestricted development once it’s been restricted - anywhere. If you really did allow growth, you’d fuck up so many people’s long term financial plans that they’d riot. Homeowners hold pretty much all the cards, so they only allow upzoning in drips and drabs to keep it from outstripping demand.

Changes to zoning won’t affect buyer preferences though. If your prototypical homebuyers are a family with kids, why are they suddenly going to want a 2/3 bedroom apartment instead of a 1800sqft house with a yard?

> People have locked interest rate and can re-fi 1-2 years with lower interest rate.

Hmmm, that doesn't make sense. We don't know if rates will be lower in 1-2 two years, than they were in 2020-2021. People who financed mortgages during that time probably won't be interested in refinancing, since the rate will likely be higher.