I keep hearing about how San Francisco's housing is incredibly expensive. Is there major development being done - high rises, urbanization, etc, because of it? If not, what's stopping that from happening? Sorry if this is a frequent or settled question.

Hi all,

My friends in high technology keep saying that rent in Palo Alto, San Francisco, etc, is sky high, and the news is full of stories about Facebook interns paying $600 to sleep in someone's closet. If the situation is that bad, wouldn't that create the perfect market conditions to build massive appartments and other housing projects? Is that already being done? Is something keeping that from being done?

I realize this is the exact kind of question r/bayarea would frequently see, so I'm sorry if it's overasked and overanswered. I am as naive as I am from New Jersey.