The thing that I have to remind myself is that on top of beautiful weather, gorgeous scenery and pleasant people around me, I pay next to nothing for rent. There are a lot of places in the world like this.
I think the main thing we need to work on is making telecommuting a reality for as many people as possible. Living where you work and choosing where you live is incredibly powerful. The problem is that this mode of working is difficult and there are many things to do to make it possible for most people. One day I think it will be the norm, but it might still be a way off.
Probably not for everyone, though, there's a lot more to relocating than "cheap real-estate".
Sadly enough I don't see telecommuting catching on in the big companies. Too few ads for 100% remote jobs (i.e. crazy competition) and almost always from small start ups. Telecommuting once per week does not cut it (you still need to live close to work).