> cost of living adjustments based on your location seem to be the trend that we are heading toward.

I disagree. Buyers of labor (or buyers of anything) will continue doing what they always have, offer the least amount of money that they think sellers of labor will accept.

“Cost of living adjustment” is just fluffy language to hide the underlying bet by the buyer of labor that the seller of labor residing in a particular area will not be able to find a buyer offering a higher price.