(I don't know enough to actually have an answer to this.)
1) move away from rising costs, in literally any direction (pick just about any other place in the world), settle into a home you can afford and move again later if you want/need.
2) Live in a rent controlled apartment, become trapped for the rest of your life in a neighborhood where you can no longer afford groceries, healthcare or a haircut because of the rising cost of living.
The difference is that all rent prices are subject to a maximum increase of roughly 1% per year, even if tenants change, the lease is locked to within 1% of the previous tenant's lease.
It works great :) Older rental stock remains cheap, and new properties are reasonably priced too.
Easy to solve the problem when their isn’t one.
Huh? No, it's the other way around. SF rents are the cause of lack of infrastructure improvements, according to the article.
I'm not sure I agree, but I think there's an argument to be had that she'd have more freedom to leave a job if she were living somewhere that she were also free to relocate, and that at scale, this economic distortion leads to high friction.
I don't think it's supposed to. It's just a price control meant to keep large swaths of income brackets from being priced out of the city entirely.
Having lived in a few places I see rent control and legislation like Prop 13 as major contributors.
When people cite the average rent in SF, that's based on what's currently on the market. What is not counted is the (much greater) inventory that is currently occupied, with rent-controlled tenants paying far less than market rate.
When someone cites "the unaffordability" of rent in order to justify rent control, what you also don't see is the high cost of MOVING that comes with rent control. My SF neighbor had been in her unit since the 90's, paying less than half my rent, and she can't afford to move if she wanted to! If she were to move she'd have to leave the Bay Area. She's trapped. Rent control doesn't improve housing choice in that sense.