What's the end game for this if nothing changes and new housing doesn't materialize? Is it just a real estate bubble that will pop during the next economic dip?

What's the end game for this if nothing changes and new housing doesn't materialize? Is it just a real estate bubble that will pop during the next economic dip? If there is another tech bubble will occur in a city like Seattle or Denver? Will the big players start to pack up shop and move to cheaper cities, because even fresh talent now requires +200k just to pay rent?