[TheOtherHobbes]

Your home country Poland is primarily agricultural - at least compared to the BA - and has much lower demand for housing.

I suspect if you pick apart of the BA housing market you'll see some very large landlords with huge property portfolios. While they're not literally "feudal lords" they might as well be in terms of their self-serving influence on housing policy.

Perhaps not coincidentally, some of them are FAANGs.

https://www.mercurynews.com/2019/11/03/meet-silicon-valleys-...

[killtimeatwork]

But the logic still holds - it there's huge demand for housing, then presumably the land prices are off the charts and the land owners can still be enticed to sell for huge amounts of money and invest into something with higher returns. The market shouldn't be dead.