Policy momentum and supply constraints

SB79 projects in Palo Alto, Builder's Remedy enforcement, BART Ashby 600 units, Marina Safeway 848 homes approved. Redwood City rent control on ballot. But supply remains scarce: only 1,400 multifamily units delivered in SF (smallest since 2012). Marin has only one active new community. Candlestick Point breaks ground. Milestone: first standalone ADU sold in San Jose under AB 1033 for $530k. JPMorganChase announced $750B housing commitment, with $200M+ flowing into SF's Power Station and Potrero Hill projects, including Sophie Maxwell building model – signals private sector stepping up.