California’s new housing bills are about to become law — but not everyone in real estate is happy about it

 · As long as the focus is on a single neighborhood, this seems eminently plausible. Real estate is more valuable when expensive properties are nearby. But in California’s coastal cities, rents are rising everywhere, not just in hot neighborhoods. The YIMBYs, joined by many left-of-center city officials, pin the blame on insufficient housing supply.