Just so we can clear the air about units under development right now:
Not counting some notably close to possibly happening developments such as 399 Frement, and of course neighborhood activists can still overturn a few of these that haven't laid a shovel yet. Also, not counting all of the countless 10-30 unit infill developments all over the place.
Hopefully there IS some rental relief coming! Surprising lack of new condos under construction and I'm not counting on Millennium Partners' proposal to come to fruition after what just happened at 8 Washington.
I think SF's mid/high-rise multifamily development cycle is only exceeded by the giants (NYC, Toronto, Chicago) and only matched/relatively on par by Miami, Seattle, Vancouver, Calgary, and Boston. Same goes for office development except take out Miami and Vancouver as players, maybe Seattle too since it's all Amazon and the sheer amount of new office buildings isn't the same.