There's no question about that. And it definitely is an issue that nearly everything new is luxury, or semi-quasi-luxury at least. With that said there are lowe

There's no question about that. And it definitely is an issue that nearly everything new is luxury, or semi-quasi-luxury at least. With that said there are lower income requirements usually as part of the tax packages for these new projects, and also the glut of somewhat higher end studios and one bedrooms clearly puts downward pricing pressure on all the second-tier and older units nearby as well. As mentioned, NYC isn't perfect but it has a reasonably functioning democratically elected city government that at least tries to deal with major urban issues and occasionally succeeds. Which I've heard anecdotally at least makes it a little different from San Francisco.