I thought most of the problems with prices in the area are geographic constraints (think peninsula nature of San Fransisco) coupled with city zoning laws (that, for one, limit vertical growth). In general, I never saw speed and cost of construction as the biggest issue.
So the innovation here would be Google adding housing supply on its own land—a company camp met of course with healthy critique.
I do think modular construction is set to dramatically change the way we create buildings. For anyone interested, there's a still-operating 1968 modular 500-room deluxe hotel in San Antonio, Texas —designed, completed and occupied in a then unprecedented period of 202 working days.
The best tidbit: Before arriving on the construction site, each room was fully decorated, including color TV, AM/FM radios, beds, carpeting, bottle openers, automatic coffee makers, ash trays, etc.