I don’t know if you read the article about people not wanting to live there, people go live there because they get hired for a job there, tech companies should work with local governments on a scheme that for every job/position they open they have to support the construction of new housing, Silicon Valley is not Malibu is a vast region with adjacent areas where suitable affordable housing can be built to actually cope with the office space approved by the authorities.
They approved Apple of the Spaceship construction but never worried about where all those people were to live and what the implications would be for the supply/demand balance were.
I’m not saying it’s feasible to have prices drop to what they were 20 years ago, but you should be able to bring them down to reasonable levels if you build enough housing by pure market forces. Otherwise, what’s the alternative?