I keep reading and hearing that a lot of these tech companies are going to start letting their employees WFH indefinitely so I’m expecting that would create a trend of people moving out of the expensive Bay Area to other parts of California.

But it feels like most of the unemployment hit of COVID was at retail/foodservice/hotels/etc, which aren't always large homebuying populations, and most business failures are smaller businesses with smaller number of employees. 

Likewise, many employees that used to be tied to an office and as such aimed to live within a certain commute are now being told they can work remotely either indefinitely or at least through year's end. 

Some investors that I knew in California ended up under water with their properties and ESP's (employee stock plan) at the same time, and they lost their shirts.

make sense they can control their employees environment..

Make it a policy not to rent to relatives, friends, workers or employees. 

You can do 100% of your commerce over the Internet and employees can work efficiently from home.  

No outstanding loans or debt, my credit is strong (750+) and I make roughly 3.3k~ a month after taxes, maximizing 401k, employee stock purchase, health insurance, etc.

Because we needed insurance, we started paying ourselves a minimal salary as employees so we can write it off.

Thanks for the input @Dave Foster.