The point is that you still end up misallocating housing units. The marginal Googler at San Francisco may end up taking a lower paying job elsewhere in the coun

The point is that you still end up misallocating housing units. The marginal Googler at San Francisco may end up taking a lower paying job elsewhere in the country reducing overall productivity. If the renter moves because they can't afford the rent they may find a place where costs are more favorable to their earnings. It's part of the difficult changes introduced by market-based economies but I thought the consensus was that in the long run everyone benenfits.