You may be right
This will be one of the big psychological factors that pop housing various suburban housing bubbles.
Don't underestimate telecommuting and small business start-ups as a way for people to support their families in the communities they WANT to live in.
All true.
Long distance commutes will cause local housing proces to fall, increasing value of housing closer to jobs.
And telecommuting/small buisness/decentralization from urban centers will continue to increase.
Quote: Don't underestimate telecommuting
Most jobs you cannot telecommute. O.k. for airline reservation type jobs but not much more else. Can't telecommute if your a nurse, miner, manufacturing person, veterinarian,retail etc etc