[zach]

Interesting. It would be similar to this concept in American sports, where a team like the New York Yankees (the San Francisco housing market of baseball) can keep their economic advantage but has to pay a tax on it, the proceeds going to less-profligate teams so they can remain somewhat competitive:

https://en.wikipedia.org/wiki/Luxury_tax_(sports)

I guess the real difficulty would be measuring how high San Francisco's housing-supply border wall is.