This is something I am watching closely. It is somewhat different than the point of view presented by the Harvard economist (former Obama official) who has predicted a V-shaped recession with significant employment and wage growth within the next few months.
If many people are working at home, then why should there be a wage differential across the country? Workers could just get a job in Silicon Valley and then work in the middle of Kansas where the cost of living is cheaper.
Personally, my feeling is that wages are going to get distributed more evenly across the country. So, wages in more rural areas will go up as those in less high-tech areas can nice job with Facebook. Dallas will stay about the same. And there will be cuts to California wages. I wouldn’t want to be in the California real estate market right now.