Earlier quoted context omitted.
Indeed artificial housing supply restrictions are about 100000000% more important. Alas, a portion of the progressive left was co-opted by the housing barons many decades ago. I believe California voters would be more progressive otherwise. Here in SF, a good example is the leading progressive mayoral candidate, Peskin. He's basically a housing subversive. He'll pay lip service to it, then sabotage YIMBY efforts. Ear…
It's been rather shocking hearing one President candidate push Peskin-like policy (Trump), and the other the policies of Peskin's nemeses (Harris). Of course since Harris is from Oakland, slightly younger, and doesn't come from trust fund money, her background would be more likely to align with fair housing policy than Peskin.
To reach utopia - the fantasy goes - we must first travel through a dystopia in which the poor are enserfed by the housing barons, paying upwards of 70% of their income in rent. Unfortunately the dystopia never ends in practice.
Then there's the perplexing question of how real estate taxation got to this point. As the saying goes, a real estate family that pays any income tax at all needs to fire their tax advisor.