Hear, hear, beaches.  You see through the foggy thinking that the article conveys.  I grew up in Richmond and our family's house would be worth $3 million or more if it still existed,  but we never had large incomes.  Friends still live there in wildly expensive houses, which they could sell and buy another wildly expensive house with the proceeds, but they've always had modest incomes. The problem is various government restrictions on development that drive up the prices. Rents would be a lot lower than they are, based on median income, if there was a sufficient supply of housing for our population.