Why Does the Big-Money Invest In Landlord Unfriendly Cities?

[William Coet]

Hello,

Despite all of the warnings to only invest in landlord friendly states, there are massive investments made in cities like New York San Fran. etc.  that are considered landlord unfriendly. 

Why is this?  One theory is that the investors see population increasing in these areas and are willing to deal with the ridiculous local laws