The way we work and live is changing and our needs as a whole tell me anyone reading this who couldn't do their job on the whole with a mobile phone and a laptop....at least for a few days.
I myself Love London and go every week for 2-3 days of work the rest of the time I'm based in the North West.
Instead of having a few densely populated pockets like we do today, people are going to disperse because technology will make it easier to do so and it’ll be much cheaper to live. Real estate prices will shift — not just in San Francisco, but in every major city. And places that hold universal appeal (e.g. beachfront/close to mountains) will draw more people as a result.