It does seem likely there's more to come, and what if anything can be done to mitigate the impact on the city's economy is an interesting question. Reasoning about that probably requires some careful disentangling of the different inputs - housing policy, remote work trends, recession and tech layoffs, etc.

It's too bad this piece just takes the opportunity to launch into a list of generic conservative complaints about SF policy, which were equally applicable when rents were skyrocketing. They seem to have forgotten that it was all supposed to be Chesa Boudin's fault... Bring him back, he was better for the office market!