I hear a lot about SF prices, and housing, and employment/pay, and it all really seems to come down to this one fundamental question.
A lot of people want to live in SF, which is a very small geographic area. The simple law of supply and demand shows that prices will be high, and people that can pay those prices will stay, and people that aren't willing or can't will leave. This seems to be what is happening right now, economics in action.
In the end, there's likely a few possible outcomes: 1) We need people to do the "low jobs" that wouldn't pay enough to live in SF. Jobs like cleaning, food service, etc. All of these things still need to happen. So these people either need to get paid enough to live there, or there needs to be some kind of amazing commuting going on. This would continue the price rises.
2) People that can afford SF realize it's so expensive that it's not worth it. This helps deflate the prices, and increase economies elsewhere.
It honestly feels like we've got a bit of both going on. Many companies are getting out of SF because of the costs and moving elsewhere. But there's still too many people (and a lot of young people) trying to get in. We haven't hit equilibrium yet, so prices rise.
But the real question is, for people that can't afford to live in SF, and are constantly protesting that fact - do you have the right to live there, or should you just move somewhere else?
There are plenty of jobs in the US, and while there may be some real reasons that you NEED to live in SF (taking care of family is one that comes to top of mind), I can't honestly see any requirement to living there.
This is one of the reasons why I moved out of California entirely, after living in SF and LA, and moved to Nevada. But I'm not one of these people protesting that they can't afford to live where they choose, and thinking that's a right.
As far as I can tell, it's not a right. If you can't afford it, you can't have it. Not everyone can live in mid-town Manhattan or SF. Everyone does, so the people that make it are the people that can pay.
Things and times change. If you don't change with them, then you're the one standing in the road waiting to get run over.