Obviously, this isn't how a city moves forward and grows.
Peskin is not necessarily a bad guy.. I agree with him on some things, but neighborhood preservation is not one. It's easy to single out tech in all of this, but the prior non-tech landlords have a lot of blame on this. Sure, market dictates pricing and the large tech community has been willing to let the prices go up. (Mind you, this isn't just real estate, but also food.) But, I feel like, as someone in tech not able to afford buying _today_, I'd rather have the city moving forward vs. stagnant just so another group of people can live here.
I appreciate diversity and my wife and I have talked for a few years of where else we should move to. Portland? Seattle? Austin? But, SF seems to have the right mix of diversity (more or less), compact city-ness (like NYC), close to a lot of great outdoors, and a lot of other things. We just keep coming back to SF has pretty much all the boxes checked off for us, even if it's in this crazy inflated market right now.
Nothing lasts forever and we will probably get some kind of housing correction. But look a look back historically will show that you can't buy a house anywhere (at least in the bay area) for $20k, like our parents did. To think that things should stand still and stay fixed is just ignoring how reality works for cities that keep growing..
Maybe this will all go away once we have no need for money like in Star Trek. But today, this isn't the case.