Is there any word on when possible adjustments or a repeal of Measure ULA might happen?

I know there’s been some discussions and mentions of it, but it’s absolutely destroying any kind of large scale development.

Everyone heard the words “Mansion Tax” in 2022 and it activated everyone’s rabidly anti-rich person stance, and while it does hurt the rich and disincentivize building mansions, it also absolutely destroyed high density housing and high rise building, and has greatly slowed down construction and permitting.

The city is choking on just how little housing there is being built, the city and its representatives are not doing a good enough job supporting people and the only people satisfied are NIMBYs who don’t want anything to get built.

My generation is looking at a virtually unaffordable and terribly harsh housing market where no one is selling their houses, no one is building apartments, and the rent continues to rise.

This is the kind of thing that isn’t fixed by rent control, that will only further hurt any kind of development.

So I’m curious, is there any word on when the city or more likely the state will address and adjust/repeal Measure ULA? Does anyone know if this is similarly impacting and hurting the Bay Area as well?