[CyanLite2]

If anything it'd raise the wages for people in the low cost of living areas and eventually equalize out. You can get one person making $500k in SF (plus office costs) or hire 2 or 3 people making $165-250k/each in Suburban America with no office costs. Doubtful that people will go entirely offshore due to time-zone, quality and other cultural differences, we tried that in the early 2000s when everything went to India only to see it come right back. There's a ton of really good engineers who for one reason or another don't want to move to SF and work in Corporate Enterprise America instead. Those people are probably already at $130-150k+ in Corporate America but will job hop to Remote BigTech Company for $165k and more interesting work. Corporate America will have to compete and will raise wages. Meanwhile devs previously making $500k in SF will have to take a $275k gig as more work goes elsewhere, but rent costs should come down as well.

[fourmyle]

I agree with this take but it's not going to be great for the SF devs that bought houses they can't afford.

[vecinu]

And who's fault is it?

I have been telling my coworkers and friends for years that these salaries are not sustainable for 30 years and everyone called me a pessimist.

It's not hard to see that the "good times" and "gold rush" can't last forever. The fact people lied to themselves thinking it's permanent should teach them something about themselves.

[CyanLite2]

Probably, but this is exactly what main street America has been dealing with for the past 40 years: buy a house close to your great job, but now your industry has gone elsewhere for cheaper labor and you're now underwater on your mortgage and even basic city services are going downhill.