Earlier quoted context omitted.
A lot of people who do not own (i.e., renters) in SF also do not want high rises. They feel like SF would have a long way to go before all of the foreign money runs out and those apartments would become affordable to them. In short, they don't think more building will benefit them in terms of housing, but will instead be bad for them in terms of quality of life, e.g., more people and traffic, etc.
How do you square the narrative "units in these high rises would be bought out by investors and so no one would get to rent them" with "these high rises would attract too many people and too much traffic to the neighborhood"
Fundamentally, if people outside the country want to buy our housing, we should be happy about that, and create jobs by building housing to meet the demand. Imagine if our reaction to Chinese demand for Buicks was to limit car manufacturing and complain that foreign investors are making Buicks unaffordable.