For instance, even before the remote work shift in 2020 many cities were heavily competing on conference and hotel space allocations for an interesting variety of economic reasons (tourism dollars that float alongside, for instance). As more "corporate Downtown" downsizes their office footprints to go more remote, some of that real estate inventory is going to go to apartments and condos, but also I would expect that there would be just as much pressure to convert it to hotels and conference space and WeWork-style hoteling office space.
I wonder if that's going to snowball into dirt cheap conference prices in a growing list of cities. Especially if you start to factor in non-traditional "hub" cities (especially those non-traditional for tech). I've heard that's an appeal of Denver, Colorado as an annual onsite retreat city for remote first orgs as it has a large conference and hotel inventory that still has some very cheap periods outside of the usual tourist periods. I can point out that cities like Louisville, KY and Indianapolis, IN have massive inventories of hotel and conference (and exposition) space with some incredibly cheap calendar windows and still heavily competing among each other for more hotel/conference inventory every year. (I can also suggest which of those two cities in particular has better tourism options, but that may as much be hometown bias, so I'll save it.)
You could do a lot of travel with a 5-7k budget per month.
There are a ton of variables- agree more analysis is needed.
But yes, you're right that typical high rise office space in the bay is around $50-80/sf/year or $4.50-7/sf/mo. Or $450-700/mo per employee at 100 sf per employee.