As someone looking to move to San Francisco, I was amazed the author said it was ever cheap. Any chances it will return to affordable-to-live as a college grad in the near future?
Doubtful. In the very late 80s early 90s the whole SF Bay area (SF, SJ OAK) was in a severe housing depression. Realtors* were moving out of state because of the stagnation. It's kind of incredible to think that housing was, then, actually, affordable. Doubtful of the return to that due to the new economics and land usage. Unless something drastic in zoning and mass transit were to happen, it's not.
*At least two that I had heard of via my brother.
Like you, that also floors me. Moved here in mid-2011, fresh out of grad school. Seems to be cheap when there's not a dotcom bubble, yet then we wouldn't be here. Ain't that a kick in the head.