I don't think it's my right to own all that. I don't need it. Someone else does. Unfortunately, they can't afford it and I can. Doesn't make it right.
It's also your right to give that property away if you like.
https://en.wikipedia.org/wiki/Right_to_property
Article 23 of the declaration states: “Every Person has the right to own such private property as meets the essential needs of decent living and helps to maintain the dignity of the individual and of the home.[10]”
-- This is not the case with real estate in America. It isn't dignified.
It's no different than a bully on the playground taking the ball from a weaker kid. They both have a right to play with that ball, right? The bullying force just comes from a bank account -- that's all.
No, we shouldn't allow financial bullies to run rampant either.
If anything, I think if the state government is going to do anything, it should help service workers relocate to more affordable places and find good work there. Let the Bay Area real estate market collapse.
I'm simply advocating that all the service workers relocate to other cities. I live in the DC area; there's tons of restaurants and other businesses here where service people work, and while housing is relatively expensive, we don't seem to have the problems with it for lower-paid people that the Bay Area has.
When mobs of zombies start shuffling out of the Pacific and swarming coastal cities, you call the National Guard and impose martial law, "government overreach" be damned. And when things reach this level of dysfunction in the housing market, it is appropriate to start rationally examining practices we've always taken for granted in the past like unfettered real estate investment.