&gt; No, because there aren&#x27;t enough people who are willing to pay $3000.<p>There are. There are <i>far</i> more than enough, because...<p>&gt;  Rent controls push the average rent down temporarily (until supply drops to regain equilibrium)<p>... there isn&#x27;t enough supply to meet demand. There are literally _not_ _enough_ _apartments_ for the people who want to come into the city. There hasn&#x27;t been enough supply to meet demand in SF for at least ten years. What little is being built will come nowhere close to meeting this year&#x27;s influx, let alone next year&#x27;s.<p>In almost <i>any</i> other city, I would agree that rent controls are obscene. Here in SF, rent controls don&#x27;t go far enough. Units built before 1970-mumble should <i>not</i> reset to &quot;market rate&quot; upon vacancy.