With San Francisco Bay Area housing prices in the stratosphere, the private sector is now planning to raise $500 million for affordable housing. Assuming affordable housing costs $400,000/unit, this will create just 1,250 units! The real problem: since 2010 the region has gained 700,000 jobs and built just over 100,000 units! Worse, since 1990 the most homes built in any year has never exceeded 27,500. 45,000 units/year is what’s needed.