I don’t see how it would reduce the power of landlords. If more people want to live in an area than housing can support, rents will increase to whatever level they can sustain to find the equilibrium where fewer people can afford it. If fewer people want to live in an area than housing supports, rents will fall.
Right, a market where a lot of people suddenly have the ability to move to a less expensive town and not have to worry about finding a job or worry about commute times. They may do so eventually if they wish, but I think this is a huge amount of leverage over landlords and would reduce housing demand.
I'm not saying it's good for San Francisco tech workers, but I don't think rent costing two thirds of your take home pay is historically typical. Based on that history I do not think landlords could effectively collude to keep prices high if people are willing and able to walk away.
