Welcome to HN. Violate the GroupThink, get downvoted into oblivion. It's happened to me twice in two days (and for one of them, I knew when I posted that it would happen).
But back to my point... the true generalization is that the Bay area, broadly, is the most expensive place in the US to live. Worse than New York. If you narrow down, you can find individual blocks of New York that are more expensive, but across the entire metro?
Sure, the headline/argument is a little sensationalist. But reducto absurdum in the other direction is no better.