Right, and there&#x27;s a reason for that: a decline in housing prices would be seen as a disaster, because so many people have so much of their wealth tied up in home equity. Of course, it doesn&#x27;t have to be that way: if you happen to own a single family house in SF, and it gets upzoned to allow apartment buildings, you can expand your house and become a landlord, or just sell the house to a developer to replace with an apartment building. But both of those options are harder than just sitting on your land and watching its price grow, which is part of the &quot;American dream&quot; of housing as a store of wealth that people were sold.