It's not a deliberate relationship, but housing prices correlate with homelessness. If landlords and property owners see their properties increase in value, that means that people on the margins are becoming homeless.
The wealthy benefit by doing nothing about homelessness as taxes are kept low and the problem of homelessness is kettled into some tiny district far away from their leafy suburbs where they never have to see it.
* it's a hard problem to solve
* nobody wants to solve that problem
* it's a national crisis, not just an SF crisis
* people are incompetent and governments are slow to move (and rarely make use of data correctly)
* things generally tend to get better only after they get worse