The less popular narrative that’s just as true, at least in California if you pay attention to the politics, is that PHIMBYs who are mostly renters and insist on 100% affordable or nothing, play just as big a role.
If you look at who blocked SB50 or who pitched the “Mission moratorium , it was PHIMBY renters.
It’s easy to rally people up against greedy rich people. But the elephant in the room is that so much resistance comes from poor people who think “luxury housing” (aka anything market rate) will lead to more gentrification.
You can agree or disagree with the PHIMBY position but most people find it complex enough they just pretend that faction doesn’t exist despite the huge role it plays.