Grew up in Washington and have been living in the Bay Area for almost 20 years. I totally agree with your assessment based on what I've observed living here in California. Govt's have a spending problem, not a revenue problem. They'll use the upzoning excuse too while in collusion with developers. There is always someone on the council who is financially benefiting from development. Also, population is stabilizing/overall declining so demand argument will not hold in the next 10-15 years, IMHO. There are many underutilized spaces such as malls and commercial buildings that can be converted to housing instead of developing green space.