Earlier quoted context omitted.
Isn't this a win-win-win though? Salaries become more normalized across the country so people can work from where they choose, SF rents will go down as techies start streaming out of the Bay Area, hiring pools for companies become inclusive of people who don't want to move to the Bay Area (or the other 2-3 tech cities). The rest of the country also certainly doesn't pay 1/3rd of your salary.
Will people start streaming out of the Bay Area, though? The thing that always interested me about the Bay Area was that my friends in Mountain View would be posting long bike rides throughout the winter. Where it's snowy and below freezing in New York, it's 55 degrees and sunny there. I imagine people like that a lot, and is part of the reason it's a popular place to live. There are other places in the US that are w…
If it's anything like Seattle, there are great and beautiful communities a few hours away - you get the same weather and even better nature but it's too far to commute. And they're a lot cheaper.