> The solution is the same as every other time this comes up. Upzone the city.
I'm all for increasing density in the Bay Area, but it is very easy to overstate as that "solving the problem". You will see more people being able to live and work in SF (which is overall good for society) and have more disposable income, but you won't by any means make SF an "affordable" city full of "children".
On the affordability side:
* There is enormous pent-up demand to live in SF. If you drop rents $100/month, a lot more people are now willing to live there. Even more if rents drop another $100/month.
* It's more expensive to build tall buildings (per sq foot of habitable space) than single family homes or townhomes.
* You end up with an equilibrium point that is cheaper, but by no means on par with Central Valley pricing.
On the children side:
In America, there's a very strong cultural attachment for children to grow up with a significant amount of space. Single-family homes and town homes work for most; condos and apartments do not (esp. when developers in SF build very few new condos/apartments with more than 2 bedrooms)
Additionally, having lived in both SF and the south bay with kids, very dense environments [1] are more annoying to raise kids in due to the difficulty of shuttling them from place to place. Combined with higher pricing per square foot and lack of a guarantee on using neighborhood schools, the needle quickly swings to choosing to live in suburbs once you have kids.
[1] As in more dense than SF residential neighborhoods, which are already quite dense by US standards.