He's the epitome of everything wrong with SF Supervisors: they pit communities against each other to create political gridlock and build voting blocs for reelection, but do fuck-all to actually solve San Francisco's problems.
No matter how many times they say "gentrification" in the same tone as "boogeyman," it won't refute basic supply-and-demand. Inaction just makes all the problems worse.
The only way to bring down rents is to increase supply.
Everyone else is lying to you.
Presumably the mortgage on the first home is quite far below current market prices, but this is not enough to drive the landlord to offer a price that is necessarily in line with rents at the time the home was purchased.
The mortgage interest is no longer tax deductible, so effective cost of ownership is higher than when compared to someone paying a mortgage on a home they live in.
The profit from renting is compared against profit from selling. If the rental price is driven too low, the owner will prefer to sell and collect the profits (and the home will likely be taken off of the available rental inventory, which will further drive up rents).
The only people exploiting the underclass are politicians that make building housing impossible. This dynamic is only possible through their help. A price is set by what the market - not by landlords.
Sounds remarkably like national politics.