It always amuses me that the 'high prices are a market signal to produce more' belief only seems to apply in areas other than housing and financial risk assets.

Funny that.

That's only possible because the Atherton government listens to him and nothing else stops the local government.

It is super hypocritical, but also, it's basically correct. I'd rather live in a world where random people showing up to Atherton city council meetings can block developments on property they don't even own (fortunately we seem to be moving that direction). This is very much an example of regulatory capture by vested interests