But others also contend that the appearance of new residential skyscrapers won't automatically reduce housing prices.
"You cannot lower the cost of housing by building more. Supply creates its own demand," said Amit Ghosh, chief planner for The City.
If more market rate dwellings are built, Ghosh predicted, "rich people living outside would want to come to San Francisco to fill them. And how does that relieve our supply problem?"
What, pray tell, is the solution?
The answer, Ghosh said, is subsidized housing.
Of course, bigger government. That, by the way, was written in 1999. Since then, San Francisco has become the most expensive city in all of the USA. Economics is not an exact science. However, the basic Laws of Demand and Supply apply everywhere in the world. Ignoring them causes misery.