It has been, for some parts of the city, up until the last few months. Very pleasant and yet unfashionable areas, like the area around the Excelsior, McClaren park and the Crocker Amazon, have been mostly being ignored by hipster and techbro alike. (Prices started rocketing these last couple of months, though, after 5+ years of ~5% price increases)
It's rather bemusing, considering all the shit and blood being hurled around. There's, no question, a >lot< of people quietly suffering are a result of the housing crunch in SF. But it's hard to look outside my window and not question how much of the noise is being made by entitled children squabbling over fashionable digs in the same four blocks of the mission. I even had one prospective roommate who asked me to see my mail in order to 'prove' my zip code was actually a San Francisco one.