... because it's such a great idea for your housing to be tied to your employment, and for your employer to have direct control over your housing situation...
I can see it now, "Johnson, if you don't work the next 3 weekends I'll fire your ass, and per city law you'll have one week to get the fuck out of town to make room for the next SF-employee".
I cannot see any way in which "everyone who works in SF deserves to live in SF" can be implemented that won't make it even more inhumane and tyrannical than the free market it's replacing.