By some economist estimates, we're still over 5 million units behind the demand.

Economists will tell you that while they know that certain actions have some effect in certain a direction, they are far from certain regarding the degree of effect or what all the actions that have an effect are. 

The Demographia report, along with one from the Economist and other sources were discussed on a thread here back in May.I am at a loss with respect to your socialism argument as I made not statements about socialism and housing prices.  

Hello BP Nation,  I am an economist with personal & professional experience, and research interest in REI, currently based in Charlottesville, Virginia - home of Thomas Jefferson's Monticello & University of Virginia - also a UVA Alum, so shout-out to fellow 'Hoos! 

http://www.latimes.com/business/la-fi-costa-hawkin...lhttps://www.facebook.com/latenantsunion/http://www.dailynews.com/government-and-politics/2...Here's some info to share with your local politicians and State assembly:Contacting Califronia state assemblyman:http://findyourrep.legislature.ca.gov/You should also look up your local city council members and contact them.Almost every Urban Planning and economist organization agrees that rent controls hurt local governments/cities:

Economists estimate we're still some 5 million housing units behind the demand.

Feldman*(1) Rich Dad’s Success Stories: Real Life Success Stories from Real Life People *(1) Who Followed the Rich Dad Lessons by Robert Kiyosaki*(1) Freakonomics: A Rogue Economist Explores the Hidden Side of Everything by Steven D.

“We are likely to have to two rate hikes this year, probably in June and December,” said Diane Swonk, an independent economist in Chicago, “but the wage gains are important, so March can’t be ruled out.”

It's been feeling like this for a while but now the "experts" at BOA (probably from the Countrywide division) are weighing inBANK OF AMERICA: The most important segment of the housing market has peakedBusiness InsiderAkin Oyedele,Business Insider•September 24, 2018manhattan real estate housingmanhattan real estate housingMoreSpencer Platt/GettyThe top is in for existing-home sales, which make up 90% of transactions in the US, according to economists at Bank of America Merrill Lynch.They cite worsening affordability, higher mortgage rates, and price cuts as reasons sales are unlikely to bounce back after peaking in November.They no longer expect existing-home sales to contribute to the economy's growth.The largest segment of the housing market has peaked and will no longer contribute to the US economy's growth, according to US economists at Bank of America Merrill Lynch."

They call us "Greedy landlords"  http://www.tenantstogether.org/events/renters’-day...http://homesforall.org   If you dig deeper these groups are funded by huge large scale politicians who really want to get mass votes.Economic rent control articleshttps://fee.org/articles/the-case-against-rent-con...https://www.economist.com/blogs/economist-explains...