There are a lot of buildings going up, however many people (who are ironically most affected by the high prices) oppose new building because it displaces locals

There are a lot of buildings going up, however many people (who are ironically most affected by the high prices) oppose new building because it displaces locals. It's a catch-22 of displacement: high prices are making the city unaffordable, but adding new housing displaces current residents. So in the end, people just blame tech, because it's an easier boogeyman than dealing with the issue of housing directly.