The world population is not infinite. If somebody moves to San Francisco that means lower demand and lower rents wherever they came from (and conversely many other US cities now have housing crises caused by exiles from San Francisco). The desirable cities should be allowed to expand until there is more than enough room for everybody (yes, everybody) who wants to live in them to live in them, at which point landlords will no longer have the leverage to keep rents high.
The world population is not infinite. If somebody moves to San Francisco that means lower demand and lower rents wherever they came from (and conversely many other US cities now have housing crises caused by exiles from San Francisco). The desirable cities should be allowed to expand until there is more than enough room for everybody (yes, everybody) who wants to live in them to live in them, at which point landlords will no longer have the leverage to keep rents high.