The simple answer is for the tech companies to move. There are a lot of places that are nice that they could move to.
Texas: Austin, Dallas, and Houston are all thriving areas with a large tech presence.
Florida: Orlando, Melbourne, Tampa Bay area, and Palm Bay all have large tech companies not to mention NASA, UCF, and UF in Gainesville is not far away. In south Florida you have pretty much all of the south east Florida coast including Boca Raton the home of the PC. From Port St. Lucie south you have a lot of reasonable housing and a lot of biotech moving in as well.
North Carolina: The research triangle is pretty nice and home to Red Hat and SAS.
Or go crazy and head up to places like Kalispell MT which a great place to live and if you are into skiing you might like the winters. Not to mention the availability of near by wind power.
Or buy up large areas of Detroit and build or renovate lots of old housing.
Lots of great places to live in the US with low costs of living the fixation of the SF area isn't that healthy for industry. Frankly I fear the over abundance of wealth and venture capital in that one area is why you see lot of odd ball startups that fail while there maybe a group of really smart people in the University of Montana that have a really good idea that can not get funding.