However, I think it might actually be possible to build homes rapidly enough to meet demand. We should at least try, and if we fail we'll have a lot of new housing. That's a nice prize no matter the outcome. What's convenient about this approach is that if we get rid of the political obstacles to construction, we almost certainly can build enough housing!
Failing that, how about we tax people who have helped perpetuate this state of affairs and benefit the most to help address the problem? How about a "created this mess" tax on everyone who has been in the Bay for ten years or more? Maybe they can contribute a little to solving the problem they created, rather than inflicting pain on other people and shouting "STOP HITTING YOURSELF!".
No, that's not a serious proposal. It makes more sense than slapping people with taxes for the privilege of moving to one of the most expensive places in the world, but that is not a high bar.