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What would the rent be for an apartment in San Francisco or New York or London if anyone in the world could move there? I think the real windfall would go to property owners in the most desirable places to live.

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Probably about the same. I'm presuming that the people able to pay the current high prices already have pretty high freedom of movement.

People in other parts of the Bay Area still don't move to San Francisco or have any desire to, even if they have the means.

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