> ...forces unleashed by Silicon Valley—rising housing costs, choked infrastructure.

Housing costs and choked infrastructure were unleashed by policies designed to deter population growth.

What wasn't anticipated is that the incumbent residents would have less economic power than the new arrivals almost overnight, putting them on the "deterred" side of the bargain unless they'd already locked in their housing costs by buying.

The unfortunate thing is that the incumbent residents least likely to benefit from anti-growth policies, i.e. long-time renters and paycheck-to-paycheck workers, are the first to bear the brunt of the shortages.