It's also very true that the software industry in Silicon Valley has been INUNDATED with Indian software engineers. THEY will work for much less, longer hours and will, without doubt, send money home to India....then eventually bring their families here. That's show biz.
Property values don't seem to go down, do they? They actually did, a TINY bit. They will increase again.
Some of them will bring their families to California.
The ones who will be more successful in the long run are the ones who will take their work experience back to India and run competing businesses in the same product fields from a part of the world with a more rational regulation structure.
Exact parallel for this?
Who did better in the Sixties and Seventies - auto engineers who came to the US and worked with the industry here, or the ones who went back to Asia and worked for Toyota or Mitsubishi or what is today Kia?
Short term it looked like the ones who stayed here. Long and medium term, it was the ones who went back to Asia.