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I mean...here in LA there has been a huge increase in urban apartment building in downtown. The problem is they are all egregiously expensive and half (or more) are developed at loss by foreign investment groups looking to park money.
Its harder to find a house in the suburbs of LA than a nice downtown apartment. It is, however, way easier to justify the cost of that suburban house.
That's how it is in the Bay Area as well. Development is slow, but it happens. When it does, it's all luxury units.
But at least the people who move into those units are less likely to move into existing homes, which then causes waves of gentrification. Someone gets pushed out, so they push someone else out, so then that person pushes the other person out. Eventually, the demographic shifts, and these people in more "urban" neighborhoods complain about noise, street life, food vendors, etc.
I would like to see even more development -- faster and at higher volume. But at least having some luxury units is better than nothing.