It's important to understand the other factors alluded to by the California Legislative Analyst Office, among others. Specific to SF is a sudden influx of wealthier residents. With such a huge gap between their income levels and say service industry or blue collar folks, they are going to throw the market rate for housing way high. Increasing the supply of market-rate housing alone may not bring things down enough, at least, not without much greater developer concessions than have been suggested.