- Enact “as-of-right” zoning, which prohibits neighborhood interest groups from dramatically delaying any project they don’t like through bureaucratic regulatory processes (construction can take 8–10 years to approve in San Francisco, compared to a similar process that takes just 17 weeks in Seattle).
- End density regulations — much of San Francisco effectively prohibits anything but 2-story single family homes [pdf].
- Raise height limits in each neighborhood.
- Ensure each new building creates the maximum number of affordable units for residents making less than the median income. Generally speaking, more construction means a higher percent of subsidized apartments for those making the median income or less. For instance, Seattle’s Mayor put forth a plan to build roughly 4 times more affordable units than San Francisco (40,000) — a plan made possible thanks to Seattle’s famous commitment to density.
Those seem like pretty strong shifts in San Francisco policy. I don't know how realistic the proposal or the plan behind it is, but it would be really interesting to see something like this on the ballot. Home values in coastal California are so inflated by future rent expectations, that any downward shift in expectations should have a large effect on current prices - like if expected revenue growth for Amazon dropped from 20% to 10%.
If something revolutionary ever did get on the ballot, I would expect the San Francisco housing market to take an immediate hit. If it had a chance of winning, I would expect home sales and prices to start dropping, possibly, even before election day. It would be interesting to see the effect that would have on the process of gathering support. And, since values on long-lived assets are so difficult for the public to understand, I would expect to hear belly-aching about why rents aren't falling along with prices. So, the only solution to the problem would potentially have headwinds to face from both owners and renters that it would face precisely because housing markets are efficient in ways that Closed Access advocates seem to doubt.