He's not missing the point - everyone else is.
There's only so much highly desirable real estate. There are only so many beachfront properties. There's a shitload of millionaires out there. There's an assload of multi-millionaires out there. There's quite a few billionaires out there now.
If you make $100,000, you're not living on a beachfront house in Miami. You're not going to live in Downtown San Francisco in a nice home.
That's life. Life's not fair.
Too bad.
Poor people are going to have to reconcile that they can't afford to live in the cities. They're going to have to be content with the suburbs, because the affluent people want to live in the cities, and they don't want people around them that are going to bring down their property values, period.
Those affluent people, especially in places like NYC / SF / LA don't have the goddamn moral courage to just say, "I don't want a buncha poors around me, doing poor people shit, that's going to reduce the value of $4,500,000 home. This isn't just my house, it's an investment, and I cannot and will not allow you to tank my investment just because you want to live where I live."
Now that's the truth.
People should accept it, because you're not gonna change it; you're not gonna change it because it's human nature and you aren't going to change human nature without a lot of pain and suffering.
There's entirely too many people in Big Tech that don't want to accept this. "If we just XXXXX, we can fix XXXXX!"
No you can't. Evolution fixes these issues, not your money, not your regulations. We have to evolve into better angels - there are no shortcuts.