[TulliusCicero]

> Strangely, its thought of as acceptable for tech workers (with their new found purchasing power due to disparate wages compared to traditional workers) to displace long-time residents of a community, but those same tech workers are aghast when communities would prefer they not come.

If you limit building, that effect just gets worse, though. The rich are always going to be able to outbid the poor/working-class, and if you limit the supply of housing, competition for that housing intensifies. A study from the California Legislative Analyst's Office found exactly this (more development = less displacement): http://www.lao.ca.gov/Publications/Report/3345

> In this follow up to California’s High Housing Costs, we offer additional evidence that facilitating more private housing development in the state’s coastal urban communities would help make housing more affordable for low–income Californians. Existing affordable housing programs assist only a small proportion of low–income Californians. Most low–income Californians receive little or no assistance. Expanding affordable housing programs to help these households likely would be extremely challenging and prohibitively expensive. It may be best to focus these programs on Californians with more specialized housing needs—such as homeless individuals and families or persons with significant physical and mental health challenges.

> Encouraging additional private housing construction can help the many low–income Californians who do not receive assistance. Considerable evidence suggests that construction of market–rate housing reduces housing costs for low–income households and, consequently, helps to mitigate displacement in many cases.