This is an argument for buying a house in a low cost-of-living area with a high quality of life. Easy telecommuting will certainly not be kind to the home prices in concentrated metropolises that can only justify their property prices because of the existence of jobs that you can't find anywhere else. I should know -- the only reason I personally am in the Bay Area is because I couldn't make this much money anywhere else. Given the choice, I'd be working from a modest home on the beach somewhere in Mexico. :D