> Also, it assumes that non-tech workers won't just move to cheaper areas
Which creates non-tech labor shortages in the original HCOL area and puts upward pressure on non-tech wages and downward pressure on tech wages, as non-tech wages are ultimately paid by the spending of everybody, including tech workers, who consume more than non-tech workers by virtue of simply earning more.
Which creates non-tech labor shortages in the original HCOL area and puts upward pressure on non-tech wages and downward pressure on tech wages, as non-tech wages are ultimately paid by the spending of everybody, including tech workers, who consume more than non-tech workers by virtue of simply earning more.