That would be really nice, but for that to happen we need to build a ton more housing (or lose a lot of population, which personally I do not find appealing). And since decreasing rental values means that property owners and landlords are making less money or seeing their investments rise in value more slowly, and since such property owners control city governments, it’s unlikely to happen unless control can be wrested from those hands.

Such housing abundance would be good for everybody, but change is scary, and nearly all factions in SF oppose change of all varieties, even when it would benefit them materially. Don’t know as much about why NYC has not produced enough housing to support the number of people that would prefer to live in NYC.