They’re conflating two distinct things here: businesses moving back to the cities, and residents. I live on the San Francisco Peninsula, in between “the City” and the Silicon Valley. For all the hype about how vibrant the economy in San Francisco is, everyday in the morning there is a massive stream of traffic heading south out of the City towards the suburban Silicon Valley. Real estate in the City is crazy, but in relative terms, it’s worse in places like Palo Alto.
Where on the peninsula do you reside?
I lived in Foster City and San Mateo, and the beater house I rented later sold for a million bucks!