The housing policy of the entire state seems geared toward boomers who bought property here in the 60s-90s cashing out on the backs of the young and newcomers.
Re:Why startups are leaving Silicon Valley
by jessaustin on Thursday August 30, 2018 @12:22PM
(#17877949)
"Elite" doesn't overlap much with "young and newcomers".
California's housing problem, particularly the Bay Area's, is a symptom of its political dysfunction. The Bay Area's elite consistently optimize for the short term.