Prop 13 affects all of CA, you don't see prices in LA going up 100% in 3-5 years like you do in most south bay cities.

LA hasn't seen anything like the VC / tech boom that the bay area is currently in. Prop 13 reduces liquidity, but that doesn't automatically have an outsized effect on prices. It's only when a market is illiquid and there's a huge spike in demand that you see ridiculously negative effects like this.

Prop 13 is a factor: http://lao.ca.gov/Publications/Report/3497#Does_Proposition....

And overturning it for commercial real estate won't do much to help housing prices, except for any re-zoning that happens. Overturning prop 13 or amending it might not happen for 5+ years, if ever. Note: https://www.bizjournals.com/sanjose/news/2017/07/19/californ...

Over the short, medium, and long-term then, building more is the only choice (SB 35, AB 71). Since you see prices not increasing as much in other parts of the state, it means building more can in fact keep prices down, as the deep-east bay construction shows.

True, but Seattle is seeing large increases in housing prices do to low inventory as well. Maybe it will play out different in the long term vs the bay area?

Politics is about "the art of the possible" and not letting the perfect be the enemy of the good. First the low-hanging fruit, then you keep going.

well yes, but what problem are you actually solving by adding more units? Yes, you're adding more people, but due to larger market effects you're not actually making the area any more affordable....

By adding supply, you will bring down prices or at least stabilize them.

This is what all the economic literature on the subject says.

Of course, it may not seem like you're making a dent, because housing has been so badly undersupplied there for so long.

Prices are determined by supply and demand.

I can guarantee you that if you built a million apartments, then prices would go down.