[jacobr1]

> But I don't follow how getting rid of rent control would incentivize supply increases?

Leaving units empty, or locked into lower-than-market rates are going to reduce the average profitability of investments. Investment in new units is in part a function of how profitable they will be sell, or to rent out.

But honestly the incentive for bay area real-estate is there, what really is needed is the ability to build with fewer encumbrances.

> That seems like it would make for a pretty precarious living situation for people who can't find ways to pay the correct market rate, eh?

Yes, this is generally referred to as gentrification. But, renting, even to poorer people, nevertheless is still usually profitable, albeit with more risk requiring a larger portfolio.