To some degree. Some people will choose to upgrade their home space--albeit often in less dense locations--but if utilization increases that's generally a win overall.

At least in San Francisco Bay Area, which has one of the worst housing markets in the country, it would be a net win.

For some people who've lived here a while and bought a house for cheap or have rent control, they're making money hand over fist.

But for the rest of us, a huge portion of our paychecks goes to landlords or paying a mortgage. It would be much more reasonable in almost any other US suburb and most US cities.