remember: when you don't build new luxury housing, luxury buyers outbid for down-market units and convert them.
this makes housing more expensive for everyone, and it's why building all housing (regardless of price) is critical to reduce prices
Nolan is 100% correct, and Bay Area media has been bad on this
SF should permit dozens of supertalls to redirect all this wealth away from existing neighborhoods
Instead every dollar will be used to renovate mansions (or even deconvert duplexes & triplexes into mansions)