San Francisco has basically dug it's own grave. By refusing to construct enough housing it has created a massive shortage. Even if it starts construction today the backlog is high enough that there will "never" be enough housing. It will take decades to undo the damage. Americans are migrating away from SF, (international migration still high). People are still living with their parents or with roommates, so if you build more housing then people will move out into their own apartments. Useless NIMBY metrics like average rent don't seem to reflect the increased quality of life of those people who get to stay in SF. What counts is that the population in SF can keep growing. Because new construction serves the top end of the market first, NIMBYs attribute the increase in rent to the new construction as the primary source of high rent although the increases would happen regardless of new construction.
The answer doesn't change: if there is not enough build more of it.
The answer doesn't change: if there is not enough build more of it.