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Unfortunately, "exciting", "yuppie", and "vibrant" aren't economic terms.

It sounds like you're justifying rent control on the basis of aesthetics.

Aesthetics are what drives immigration to a degree. Would you rather move to Cleveland or San Francisco if everything else was equal? I thought so.

So, SF should cost more, since it's more desirable, and push people to poor ignored Cleveland to balance out the pressure.

The place with all the beautiful trees costs more, so lets build more housing there, cutting down the trees while doing so.

Same idea: You will lose the character without some sort of effort to not.