San Francisco Housing

San Francisco has suffered in the 21st century from a “housing crisis.” One reason for the housing shortage is that, on average, only 1,500 units per year have been added, while the U.S. Census estimates the city’s population grew by 32,000 people from 2010 to 2013 alone.

Homeowners have a strong economic incentive to restrict supply because it supports price appreciation of their own homes. The crisis has been exacerbated by the migration of the tech industry from the suburbs to the city.