disastermouse
Banned
The housing issues in cities (w/ NY/SF as the extreme examples) are primarily due to NIMBYism. New building is intentionally made more difficult by the residents voting for these policies, which increases their investments while hurting both businesses (developers) and lower/middle income people who don't own property. Cities which aren't able to crank on these roadblocks as hard (due to zoning being controlled more at the state level in their area) have ended up with less housing issues because of it.
And NIMBY is primarily due to people considering their houses investments, outside the fundamental function of use-value.
Capitalism.