Under those conditions, I'd expect living in that city to be expensive, yes. Which seems like a problem that would solve itself eventually. If people's quality

Under those conditions, I'd expect living in that city to be expensive, yes. Which seems like a problem that would solve itself eventually. If people's quality of life gets too low, I'd expect a decent chunk of them to move, opening up housing for people who can't/won't move. There's some downsides to that strategy, so the city may not want to go that route, but as someone in a low CoL area, I don't really have a say in the matter (nor should I, so long as people aren't asking me to subsidize high CoL areas).