Ex-migration will find SF strapped for taxes. They will find it hard to layoff workers or reduce their wages/hours to what their reduced sources of taxes will support. This a rock and a hard place problem. Their loan rating will come under downwards pressure. The state has similar problems - it depends on far they move? City and state sales taxes will decline. This come from decades of excess wages and benefits that are already unsupportable - it will get worse. If the remote work reality becomes nation wide, many smaller cities will enjoy a re-birth. This is good.