digislave
I am not sure there should be regulation to prevent people from doing that, as it represents personal choice and preferences.
If investing in housing is a good way to make money, it is an incentive to build more housing.
Even foreign money could be good. If foreigners pour lots of money into your housing market, you could build lots of cheap houses and sell it to them for lots of money, for example. (not saying you should, just saying foreign investment in housing is not automatically a net loss).
Even poor people today live better than kings in the past. The things we can afford, microwave dinners, washing machines, were only available to kings with lots of servants in the past. When you consider medicine, it becomes even more obvious that we are better off now than rich people in the past.
Also it seems likely that more measurements are being taken (at more locations). And cities are expanding, changing local weather.
The article also mentions the necessity of talent.
It also doesn't say everybody can become a billionaire by simply working hard.
Also even if you are born in Africa with no access to schools (or in some US ghetto were everything is sooo horrible), you can probably set yourself apart from your peers.
I am frankly tired of this modern idea that is is somehow unfair if parents pass on their advantages to their kids. That is what nature has always been about. It even starts before people have kids - they seek out partners that maximize the potential for their kids. So if a woman chooses an intelligent (or even just rich) man as a father for her kids, it is somehow unfair because it gives the kids an advantage. Even trying to become attractive (for example to become rich) to make you a good choice for parent is somehow unfair? It should be obvious that all that is some Marxist bullshit, where individuals are not allowed to operate for their personal advantage anymore, and their bodies are being utilized (women are not allowed to choose attractive partners anymore, or have children for their own enjoyment. Everybody has to be dedicated to the benefit of society or "fairness").
Stephen Curry's father was a professional basketball player, and now Curry is one of the best Basketball players. Is that unfair? What would have been fair, to disallow his father to play basketball with his son, and instead mandate he gives free basketball lessons to poor kids?
Maybe it is unfair that Curry's father didn't push for him to become a lawyer or a doctor, "forcing" him into a career as a basketball player. Well his dad knew about the world of basketball, so that is where he was able to help his son. Why shouldn't he do that? I personally will see to it that my kids learn to code, because that is where I am able to help. I don't feel bad about it at all. In fact I wish there were other things I were able to help with, but there are not. Still, they can go out into the world and seek other teachers. Especially with the internet, a lot of things are free to learn. There even is a Masterclass by Stephen Curry about learning to play Basketball.
Nevertheless I think your claim about the zip codes is too broad. Most people will have average lives. I suspect even in Silicon Valley only a small fraction of kids grow up to be successful entrepreneurs.
I don't think anybody here claims that working hard automatically makes you successful, either, just that it is difficult to become successful without it.
Also your movers could probably afford to work less if they dropped their drug habits.
The problem might not be venture capital, but simply there being entities (companies) that the government can get to.
Individuals fare even worse. Try to host content that your government does not approve off.