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I suspect there's a sneaky thing going on with big SFBA landlords managing units *not* under rent control — as long as rents rise, high turnover is actually profitable. By year 2, your rent will increase *above* market; whether you stay & pay or leave, it's a win for the landlord
In other words, the measure we call "median rent" or "market-rate rent," when derived from listings for currently available units, is really only "first year market-rate rent." And I'm willing to bet that that's *actually substantially lower* than the true market rate.
That rates are artificially inflated and city officials and homeowners don't want to get rid of onerous restrictions/control and allow new building. Everyone else is left to suffer the expense because allowing building would deflate current property values.
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