I've said it millions of times but in order for a city to stay the same, the city needs to grow. San Francisco is a great example of what happens when you fight growth under the delusional idea that by doing so, nothing will ever change. Their rents skyrocketed and the original culture that has thrived for decades is almost completely gone.
As the industry changes, higher pay jobs will be more focused in the city center which means the only way to keep the original tenants there is to build more housing to accommodate the new. The higher paid skilled workers will be coming to the city no matter what and rent control will have little to no effect in preventing that.
I've said it millions of times but in order for a city to stay the same, the city needs to grow. San Francisco is a great example of what happens when you fight growth under the delusional idea that by doing so, nothing will ever change. Their rents skyrocketed and the original culture that has thrived for decades is almost completely gone.
As the industry changes, higher pay jobs will be more focused in the city center which means the only way to keep the original tenants there is to build more housing to accommodate the new. The higher paid skilled workers will be coming to the city no matter what and rent control will have little to no effect in preventing that.