Some people would say that real estate in a geographically contained space like San Francisco is inherently in inelastic supply.

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In other words, in markets with an inelastic supply of homes, the MID will increase the prices of homes rather than their quantity.

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The fundamental point is that, in the presence of inelastic supply curves, demand-side subsidies face a headwind of adverse price effects, while direct public provision gets a tail wind of favorable price effects.

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In their second report they both point to the inelastic nature of supply and demand for food and also claim that food prices move much more than supply and or demand for food.

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The reason that real estate prices in San Francisco respond so vigorously to relatively minor changes in demand is because the supply is so inelastic.

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As a consequence, supply is very inelastic.

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Coal supply is relatively inelastic.

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In the short term supply and demand for food are highly inelastic.

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