Bananas and jeans are inexpensive consumables. Homes comprise over a quarter of non-financial assets in the US while being responsible for 68% of household liabilities [0].

Regulations have undeniably caused harm in California.

Yet, an elephant lurks. Housing is a massive system dependent upon the price of homes/land continuously rising. History has shown that when that doesn't happen, it is disastrous.

Maybe the market disentangles that, but by god would it be destructive.

[0] https://www.brookings.edu/blog/up-front/2019/06/25/six-facts...