Internet and technology's affect on urban real estate prices

[Paul M.]

Real estate prices in cities are generally multiples higher than in remote areas. EG Boston, New York, San Francisco, Chicago, DC, Seattle, Austin, etc etc prices are higher than small towns far from major metropolitan areas and generally prices downtown are more expensive than the suburbs in this period of history.

Do you think, over the next few decades that the internet will ever serve to bring down those big city real estate prices relative to less expensive areas. EG telecommuting, 3D printing, etc. will advance in the future, will they bring down demand?

So far they don't seem to have had a measureable effect, but presumably 20 years from now, we'll be better at online collaboration and fewer people will need to go into an office. If say 50% of city workers no longer needed to work in an office, presumably many of them would consider living elsewhere.

For those of use following a buy and hold strategy in a major metropolitan area, this could cause a problem for us a couple decades from now.