If you're the Treasurer of Cupertino, this cannot be a fun thing to hear about.
Now that the suburbs are all built out and getting more expensive, I doubt the same phenomena can happen. There's a limit how far you can go to stay close to the metro area.
I live a (non-rush hour) hour from Boston which I still consider "close" to the metro in that I can drive in for the evening and have even commuted in--admittedly a long commute. But I'm in a small semi-rural town. It's not true rural cheap but it's a lot less expensive than actually in the city or close-in suburbs.