People with money (i.e. home owners) don't want an apartment on the 7th floor. They want a ranch style home with a front and back yard. Which is what they have right now in SV.
This argument has been going on for as long as there has been a "Silicon Valley" to make housing expensive, so decades. Nothing will change, because the people who actually live there now like it the way it is.
That is an incredibly bad generalization. Not only are the wants of wealthy people not absolute, but the general trend of housing for the last 20 years are the exact opposite.
This argument has been going on for as long as there has been a "Silicon Valley" to make housing expensive, so decades. Nothing will change, because the people who actually live there now like it the way it is.