I'm always amazed to see the same people who place all sorts of statutory restrictions on new housing blame the free market when there's not enough housing.
Exactly! How can we say the free market isn't keeping up when it's hardly free? California has an insanely slow build rate because of how much red tape sits in front of it. This slow build rate leads to less housing which gives us high prices. And then people seem to think we somehow need even more red tape to save the day.