How important is stable housing near high-paying jobs for long-run career growth? We study San Francisco Ellis Act withdrawals, which remove rent-controlled buildings from the rental market, and compare displaced tenants with tenants in nearby rent-controlled buildings. Six years after eviction, displaced workers earn about $13,000 less (20 percent of baseline earnings) and live in lower-value housing and neighborhoods. Losses are largest for younger workers and remain large even for movers of 5-25 km, who transition to smaller, lower-paying firms and face longer commutes. We develop an equilibrium model of frictional housing and job search, costly commuting, localized search, and human-capital accumulation, calibrated to the Bay Area. The model quantitatively matches the eviction effects because central locations offer higher wages and faster wage growth; displacement reduces access to both and slows progression up the spatial job ladder. Counterfactuals show that improving access to central housing reduces losses more than temporary rent or commuting subsidies.