And, of course, building more housing will reduce the cost of living, which will help with that problem.
That has yet to be proven. Developers have a lot of costs to recoup for those buildings they build. They will undoubtedly charge their tenants "market rate" to get that bag. So that is a real problem ... nobody is going to be interested in moving into all these new units, so long as the cost keeps going up, and up, and up. And I've seen proof of that. I've been on the rooftops of buildings in the evenings, looking across the road at these new, high-rise apartment buildings, and probably only about a quarter of the units have the lights on.
I'm basically only in San Francisco now because of rent control laws. But none of those laws apply to buildings built after 1979. So whatever your housing lease says today, whenever it expires (which is probably no longer than three years from now), the sky's the limit. You'll be priced out in favor of someone willing to pay today's "market rate." So when you're thinking about leasing any of these units, forget about starting a family or anything along those lines. You're a short-term tenant, and you'd better get used to it.
That's the real problem San Francisco needs to solve: What is the use of building new housing when the realities of the market make that housing undesirable to much of the population?