Rent control won't really solve the problem as it can only help people who already live in the city but makes rents even higher for new residents - there have b

Rent control won't really solve the problem as it can only help people who already live in the city but makes rents even higher for new residents - there have been studies that essentially find that rent control essentially just transfers money from newer residents to ones who have lived here a long time. And worse, it a removes incentives for improving existing buildings and for current tenants to move, thereby reducing liquidity in the market - eg if you would like to upsize or downsize for whatever reason, being locked into a good rent controlled price is a strong disincentive. The better solution is definitely "build an incredible amount of homes" though $1200 probably is not be obtainable even at extreme ends of possibility. We also should consider it a region wide problem and not just an SF problem - the whole bay area needs to build more, as rents in Oakland, Daly City, San Mateo, etc are related to SF prices as well. If the region is going to add jobs we better add housing at the same rate, and we've massively failed at that. But anyway if the market actually starts functioning as new supply appears any tent decrease would incrementally attract some new tenants from elsewhere. Rents only shoot back up if the supply increase isn't sustained addition, or we somehow artificially lower rents for a short period. In a functioning market we should find an equilibrium price and when demand spikes faster than units can be built, be development would spring up that in a few years would push prices back towards normal (as jobs / the economy clearly moves faster than new housing can be constructed). But even in the booms when construction should be seeing the influx of people with high salaries and trying to develop new housing to keep up... Well, the volume of new housing just didn't keep up.