Why? Why is housing so expensive in cities like San Francisco, Boston, New York? It’s expensive because demand is high and rising. It’s insanely expensive to live in San Francisco because practically everyone wants to live in San Francisco.
But that’s only half the story. Housing is also insanely expensive because supply isn’t rising very quickly.
When you have demand rising quickly and supply changing slowly, you get rising prices. So, how do we fix it?
