> The counter-point is that if I was a homeowner in the Bay Area, I want to protect my property as much as possible, and I'll use my political power to do that.

I totally get that, but it's a) unfortunate that when one buys a home, their financial self-interest becomes immediately opposed to the needs of the overwhelming majority in this city who rent, and b) ridiculous that city politics safeguards the value of these risky bets by homeowners at the expense of literally everyone else.