Very insightful piece by William Baldwin from Forbes on telecommuting and real estate. Here is the key point:
But economic tsunamis take a while to arrive. The arbitrage between Chinese and American wages that became possible in 1979 is only now becoming apparent to every factory worker. So it's still possible that tumbleweeds will arrive in New York. Possible tipping point: The alternative minimum tax, which makes state and city taxes nondeductible on federal returns, finally catches up with New Yorkers and the pampered municipal employees who ride on their backs.
Setting the political implications aside, the reality is that people will soon be able to work where they live and live where they work, no matter the geographic distance. Tech makes this possible, and the changing way we communicate as a society adds fuel to the fire.
Of course, this prediction is brought to you by the same guy who was wrong about ubiquitous broadband for four years....