Agree. Further corollary: more workers will be concentrated around 2nd-tier hubs where their wages will be lower than 1st-tier, but higher that median wages. 2

Agree. Further corollary: more workers will be concentrated around 2nd-tier hubs where their wages will be lower than 1st-tier, but higher that median wages. 2nd-tier median wages will then drive up housing prices which will rinse & repeat COL increase trends seen in the Bay Area. Hopefully these other hubs will have better development zoning & housing policies than San Francisco / Bay Area.