From The New Yorker:

San Fran

“… cities that planners thought would hollow out and become obsolete have instead become magnets for increasing concentrations of wealth. The more expensive they are, the more closed they become to everyone but those who already have money—pushing them to become more expensive still.

“In turn, imperial cities become wellsprings of resentment both for residents who can no longer afford them and for those who live outside and see the concentration of wealth mainly in the light of their television screens.”