[TulliusCicero]

NYC has some similar problems, albeit not as severe. IIRC much of the existing housing in NYC is 'illegal' in the sense that current zoning would prevent it from being built today due to density restrictions.

For a counter example, you can look at Tokyo as a place that's more of a free for all, and indeed while it's still fairly expensive, it's much less so than the bay area or NYC.

[jtuente]

Rent alone accounts for the majority of the difference in CoL, but that may also depend on your expectations for the living space.

https://www.numbeo.com/cost-of-living/compare_cities.jsp?cou...

[TulliusCicero]

Even if you compared studios in NYC to 1br's in Tokyo, Tokyo would still have a huge rent price advantage.