Why is the median cost of a home in San Francisco over $700 K?
"In this case, it is most informative to report the actual estimated dollar value that each regulation adds to housing prices. San Francisco is the city with the greatest direct dollar cost of regulations. After adjusting for inflation, all regulatory measures combined are estimated to have contributed $409,332 to San Francisco’s housing price between 1989 and 2006 (or 51 percent of the 2006 price)."
http://depts.washington.edu/teclass/landuse/Housing051608.pdf
"In this case, it is most informative to report the actual estimated dollar value that each regulation adds to housing prices. San Francisco is the city with the greatest direct dollar cost of regulations. After adjusting for inflation, all regulatory measures combined are estimated to have contributed $409,332 to San Francisco’s housing price between 1989 and 2006 (or 51 percent of the 2006 price)."
http://depts.washington.edu/teclass/landuse/Housing051608.pdf