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If he spent a little while educating himself before making such comments in public, he'd know that the real problem is draconian zoning laws and NIMBYs.

http://www.amazon.com/The-Rent-Too-Damn-High-ebook/dp/B0078X...

In a nutshell:

San Francisco has long been filling up with noobs...but now we face the most dangerous, the most egregious and blandest of them all...people with lots of money.

NOBODY can square-up a joint like rich people.

As I wrote in this thread: http://news.ycombinator.com/item?id=7067752 and elsewhere, the solution to rising prices (which is another way of saying "gentrification") is to increase supply.

Or to decrease demand, but that seems unlikely to happen in SF in the near term.