+1. If the problem is that absent foreign investors are buying up all the housing stock, maybe we should make a 100 story tower on some parking lot in SOMA and sell each floor as a $5M luxurious penthouse unit with the stipulation that the buyer must reside out of the country. Boom, we just took a bunch of those foreign investors out of the market without increasing traffic and decreased the annual US trade deficit by 1% to boot.

Fundamentally, if people outside the country want to buy our housing, we should be happy about that, and create jobs by building housing to meet the demand. Imagine if our reaction to Chinese demand for Buicks was to limit car manufacturing and complain that foreign investors are making Buicks unaffordable.