Earlier quoted context omitted.
> I don't think you quite grasp the effects of a massive influx of hundreds to thousands of new individuals making $150k-250k. I'm from the bay area and pay close attention to land use/zoning issues, so yeah, I think I do. The bay area has had particularly extreme series of decades of rent increases precisely because of anti-housing policies. If the market was allowed to respond, rents would still rise, to be sure, b…
Or conversely, look at Portland for an example a place where keeping up with housing demand has not translated into preserving a quantity of affordable housing. Abstracted supply and demand alone does not result in ensuring housing at various price points
Rent has significantly increased in the Portland metro area and gentrification is in full effect. There are vacant luxury multi-tenant properties littering the city and many more in the planning stages. As more tech companies enter the Portland market, expect this trend to accelerate.