It's a good point but let's remember that we're talking about a town of 60,000 people.
What you’re saying really amounts to saying you want to stop immigration into your town. While I can understand the sentiment, the problem is that people feel this way in so many places that it is creating a crisis of housing affordability.
Most of the people living in Santa Cruz owning homes are not commuting to the Bay to work. They made their money in tech and have retired to the beach.