Exactly this. Look at the slow-moving nightmare happening in Berkeley because of NIMBYism and CEQA reviews. The city/state/UC system is going to lose an incredible amount of funding and student enrollment is going to plummet because some rich Berkeley assholes don't want new apartments in their neighborhood.

California (and all states) need to build massive amounts of housing (any kind! public, social, market-rate, affordable -- it doesn't matter just do all of it at once) to address the immediate demand while we also work on destroying the concept of housing as an asset and not a guaranteed right.