The analysis you usually see is that the Democratic method of getting rid of the underclass is to sweat them out with a rising cost of living until they choose to leave.

On this analysis, the effect is certainly there -- a reduction over time is nothing to sneeze at -- and yet not very effective in terms of actually cleaning up the problem.

But note that this strategy would be severely undermined by letting the price of housing in SF fall.

Dunno, but I wanna meet one white person in SF who has ever though about this.