This advice is sound yet still evokes silent rage (i.e. downvotes) on HN or reddit. The rest of the country is just fine. Decent jobs, nice people, reasonable mix of climate. One thing every other place in the entire country has in common relative to the Bay Area is cheaper housing.

You might make 20% less in Seattle or Austin but you will have access to housing, which will have much a much more profound long-term impact on your finances than toughing it out as a renter in a "better" job market.

If you wake up at 45 still renting, you can probably forget about anything resembling a traditional retirement.

There is likely some truth to this as it encourages new housing stock to be built. I also suspect that it does lead to a more sustainable long term growth that's less likely to have major sell offs since owners will hold onto their property to maintain their tax advantage. I openly wonder if this is the reason that California housing, particularly in the Bay Area, did not implode during the dotcom bubble.