Almost 30 years ago "no one but the rich" could afford to live in Aspen, Colorado. I wonder what "the rich" did about it, if anything.
30 years ago? Zillow says median price of home in Aspen is $1,484,000. http://www.zillow.com/aspen-co/home-values/
But in all fairness, they do seem to have a Pitkin County "worker affordable housing" program for people who work in the county. I think the S.F. affordable housing program is for people "who live or work" in S.F. (as I recall from reading the Mayor's BMR program). So you work in Silicon Valley, but get subsidized housing in beautiful S.F.
I don't understand any of this. All I know is that tax-payer funded housing subsidies can't possibly be libertarian, and that there is a lot of "policy-protected" land all over the Bay Area with nothing on it.
“You don’t want rules made entirely for people that have
nothing, at the expense of people who have something.” Paraphrase by M. Berry of statement made by Jason Furman, chair of the White House Council of Economic Advisers.