It's not at all a SF problem, it's a metropolitan city problem. NYC, Boston, Denver, Austin, Boise, both Portlands, etc all have the same housing crisis.
The truth is well-paying (i.e. middle class) jobs are coalescing in a small number of cities which have failed to adapt to the growth. As a software engineer this means I can either make great money in one of the aforementioned cities or a fraction of it in an "off-brand" city. Lucky for me I can afford to pay out the nose for my apartment but this causes incredible pressure on the housing supply, especially for those less well-off.
The truth is well-paying (i.e. middle class) jobs are coalescing in a small number of cities which have failed to adapt to the growth. As a software engineer this means I can either make great money in one of the aforementioned cities or a fraction of it in an "off-brand" city. Lucky for me I can afford to pay out the nose for my apartment but this causes incredible pressure on the housing supply, especially for those less well-off.