I don't think most people leaving the bay area are headed to some remote cabin in Montana or some sleepy town in the midwest - they're just moving to cheaper (comparatively) cities. Anyone pulling up roots with a bay area salary or a home in CA is going to have a huge cash advantage against anyone in the local market just about wherever they move.

On a personal note, it's been tons of fun competing with the multiple bids, sight unseen, over asking on 600-700k+ century old homes in need of another 100k worth of rehab.