[erik_seaberg]

There are plenty of markets in which the median household can easily buy or rent the median house, because competition drives the price down towards the cost (labor and materials, which just aren’t that expensive). The crisis exists near big cities because zoning boards have created massive shortages of buildable land, and builders and landlords can’t possibly satisfy more than a small fraction of total demand. Naturally they prefer to accommodate the highest bidders. If more inventory existed they would have to take lower prices for it.

If SF only allowed one Burger King and no other restaurants or grocery stores, the price of food would be shockingly high, yet government subsidy wouldn’t be the most effective fix.