I have to give you credit for backing up your claims with reported statistics. Good job and I mean it. If the statistics are correct than It does imply, as of now , that employees should have bargaining power.
The only two questions remaining are 1) will this remain to be the case or will the economy, particularly the tech sector, continue to dive. 2) Will the workforce take advantage of this power or will large numbers of individual developers make choices in a desire to earn more than sufficient for retirement. For example, you mention that students can go to cheaper schools than Stanford or USC. While true maybe a large number of parents donâ(TM)t care about that and desire their kids to go to Stanford or USC. Regarding this second question, your statement about how people react assume a lot about people having the same motivations as yourself. If half the potential employee base value making more money regardless whether or not they are already saving substantially for retirement and they willing to go to the office , employers who want staff to come into the office can take advantage of that fact to fire those who are not willing to do so.
Since this is all determined by job market demand , we will find out one way or another over the course of the next year. What employees desire for their ideal working situation and what parts of that are willing to give up for their desired pay.
"The algorithm to do that is extremely nasty. You might want to mug someone with it." -- M. Devine, Computer Science 340