"This was a win-win for both businesses and new Portlanders; companies paid their transplanted employees less than if they were located in Seattle or San Francisco, and employees could do more with what they were paid. As a result, Oregon became the most moved-to state in America, and those people needed housing. All those newbies drove vacancy rates to record lows and rent rates to record highs."

That's part of the story. The other part is techies in NY and SF being allowed to work remotely and moving here on the same salary. "You mean a two bedroom apartment is only $2000?!"